Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 · FOMC decision Wed, Dec 9 · CPI release Thu, Dec 10 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ put-side pain■ call-side painTotal payout option writers would owe at each settle price (both sides, all open interest, ×100 shares) — low settles hurt put writers, high settles hurt call writers. The minimum — 410 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)SPGI open contracts per strike for Fri, Feb 19.
Open-interest change: building vs unwinding
Needs two observed snapshot days for this expiration; the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.
Volume by strike · Fri, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 27.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-0.06
380
0.0027
0.56
-0.08
-0.14
0.84
-0.07
390
0.0032
0.63
-0.08
-0.17
0.80
-0.08
400
0.0037
0.70
-0.09
-0.20
0.76
-0.09
410
0.0042
0.78
-0.10
-0.24
0.72
-0.10
420
0.0047
0.85
-0.11
-0.29
0.67
-0.10
430
0.0052
0.91
-0.11
-0.34
0.61
-0.11
440
0.0056
0.96
-0.12
-0.40
0.56
-0.11
450
0.0059
0.99
-0.12
-0.46
0.50
-0.11
460
0.0060
1.00
-0.12
-0.52
0.44
-0.11
470
0.0060
0.99
-0.12
-0.58
0.38
-0.11
480
0.0058
0.96
-0.11
-0.64
0.33
-0.10
490
0.0055
0.92
-0.10
-0.70
0.28
-0.10
500
0.0052
0.86
-0.10
-0.75
0.24
-0.09
510
0.0047
0.79
-0.09
-0.80
0.20
-0.08
520
0.0043
0.72
-0.08
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 37 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.
Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.
Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.