Event risk before this expiration:FOMC decision Wed, Oct 28 · 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 — 11 — is the max pain price.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)STNE open contracts per strike for Fri, Apr 16.
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, Apr 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Apr 16
— call IV— put IVATM ≈ 46.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Apr 16
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, Apr 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.00
5
0.0496
0.01
-0.00
-0.12
0.80
-0.00
6
0.0760
0.01
-0.00
-0.19
0.70
-0.00
7
0.1048
0.02
-0.00
-0.29
0.58
-0.00
8
0.1209
0.02
-0.00
-0.41
0.47
-0.00
9
0.1192
0.02
-0.00
-0.52
0.38
-0.00
10
0.1088
0.02
-0.00
-0.60
0.32
-0.00
11
0.0967
0.02
-0.00
-0.67
0.27
-0.00
12
0.0855
0.02
-0.00
-0.72
0.23
-0.00
13
0.0758
0.02
-0.00
-0.76
0.20
-0.00
14
0.0675
0.01
-0.00
-0.79
0.18
-0.00
15
0.0604
0.01
-0.00
-0.82
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 14 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.