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 — 7350 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)SPX open contracts per strike for Fri, Mar 19.
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; 2 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 4300 +500 · 9200 +500 · 8100 +434 · 6850 +428
Volume by strike · Fri, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 15.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.68
-1.08
7400
0.0004
16.98
-1.08
-0.32
0.66
-1.08
7450
0.0004
17.38
-1.08
-0.34
0.65
-1.08
7475
0.0004
17.56
-1.08
-0.35
0.64
-1.08
7500
0.0005
17.74
-1.08
-0.36
0.62
-1.08
7550
0.0005
18.06
-1.08
-0.38
0.59
-1.07
7600
0.0005
18.34
-1.07
-0.41
0.57
-1.06
7650
0.0005
18.57
-1.06
-0.43
0.55
-1.05
7700
0.0005
18.74
-1.05
-0.46
0.52
-1.03
7750
0.0006
18.84
-1.03
-0.48
0.49
-1.01
7800
0.0006
18.85
-1.01
-0.51
0.46
-0.98
7850
0.0006
18.78
-0.98
-0.54
0.43
-0.95
7900
0.0006
18.60
-0.95
-0.57
0.37
-0.88
8000
0.0006
17.95
-0.88
-0.63
0.31
-0.80
8100
0.0006
16.88
-0.80
-0.69
0.26
-0.71
8200
0.0005
15.46
-0.71
-0.74
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.