Event risk before this expiration:Jobs report Fri, Oct 2 — 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 — 25.5 — is the max pain price.
Open interest by strike · Fri, Oct 2
■ calls (up)■ puts (down)T open contracts per strike for Fri, Oct 2.
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, Oct 2
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 2
— call IV— put IVATM ≈ 23.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 2
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, Oct 2
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.01
21.5
0.0283
0.00
-0.01
-0.03
0.97
-0.01
22
0.0376
0.00
-0.01
-0.03
0.96
-0.01
22.5
0.0520
0.00
-0.01
-0.04
0.95
-0.01
23
0.0756
0.01
-0.01
-0.05
0.92
-0.01
23.5
0.1175
0.01
-0.01
-0.08
0.87
-0.01
24
0.1940
0.01
-0.01
-0.14
0.75
-0.02
24.5
0.3010
0.01
-0.02
-0.25
0.58
-0.02
25
0.3870
0.02
-0.02
-0.43
0.38
-0.02
25.5
0.3919
0.02
-0.02
-0.63
0.21
-0.01
26
0.2981
0.01
-0.01
-0.81
0.10
-0.01
26.5
0.1775
0.01
-0.01
-0.93
0.05
-0.01
27
0.0958
0.00
-0.01
-0.98
0.03
-0.00
27.5
0.0598
0.00
-0.01
-0.99
0.02
-0.00
28
0.0427
0.00
-0.00
-1.00
0.02
-0.00
28.5
0.0323
0.00
-0.00
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 26 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.