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 — 7600 — is the max pain price.
Open interest by strike · Wed, Mar 31
■ calls (up)■ puts (down)SPX open contracts per strike for Wed, Mar 31.
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: 8150 −155 · 8100 −151 · 7700 +101 · 7855 +41
Volume by strike · Wed, Mar 31
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Mar 31
— call IV— put IVATM ≈ 15.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Mar 31
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 · Wed, Mar 31
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.68
-1.04
7400
0.0004
17.72
-1.04
-0.32
0.64
-1.04
7500
0.0004
18.47
-1.04
-0.36
0.63
-1.04
7525
0.0004
18.64
-1.04
-0.37
0.62
-1.04
7550
0.0005
18.80
-1.04
-0.38
0.60
-1.03
7600
0.0005
19.08
-1.03
-0.40
0.57
-1.02
7650
0.0005
19.32
-1.02
-0.43
0.56
-1.02
7675
0.0005
19.42
-1.02
-0.44
0.55
-1.01
7700
0.0005
19.50
-1.01
-0.45
0.52
-0.99
7750
0.0005
19.61
-0.99
-0.48
0.50
-0.97
7800
0.0005
19.64
-0.97
-0.50
0.47
-0.95
7855
0.0005
19.58
-0.95
-0.53
0.43
-0.91
7920
0.0006
19.36
-0.91
-0.57
0.41
-0.90
7950
0.0006
19.20
-0.90
-0.59
0.39
-0.86
8000
0.0006
18.87
-0.86
-0.62
0.37
-0.84
8025
0.0006
18.66
-0.84
-0.63
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.