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 — 7480 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)SPX open contracts per strike for Fri, Jan 15.
Open-interest change · 2026-10-28 → 2026-10-29
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot: where the walls are building and where they’re unwinding. Only strikes observed on both days are compared. Biggest moves: 7600 +868 · 8200 +609 · 7750 +420 · 6200 −347
Volume by strike · Fri, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 14.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.72
-1.38
7350
0.0005
11.85
-1.38
-0.28
0.70
-1.40
7400
0.0006
12.29
-1.40
-0.30
0.68
-1.40
7450
0.0006
12.71
-1.40
-0.32
0.65
-1.41
7500
0.0006
13.10
-1.41
-0.35
0.62
-1.40
7550
0.0007
13.44
-1.40
-0.38
0.59
-1.39
7600
0.0007
13.73
-1.39
-0.41
0.55
-1.37
7650
0.0007
13.93
-1.37
-0.45
0.52
-1.34
7700
0.0008
14.04
-1.34
-0.48
0.48
-1.30
7750
0.0008
14.02
-1.30
-0.52
0.43
-1.25
7800
0.0008
13.87
-1.25
-0.56
0.39
-1.18
7850
0.0008
13.57
-1.18
-0.61
0.35
-1.11
7900
0.0008
13.12
-1.11
-0.65
0.27
-0.95
8000
0.0007
11.78
-0.95
-0.73
0.20
-0.77
8100
0.0006
10.01
-0.77
-0.80
0.14
-0.59
8200
0.0005
8.06
-0.59
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.