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 — 380 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)TSM open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 35.0% · 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
0.90
-0.08
360
0.0023
0.38
-0.09
-0.11
0.87
-0.10
370
0.0028
0.44
-0.10
-0.13
0.84
-0.11
380
0.0032
0.51
-0.12
-0.17
0.80
-0.13
390
0.0038
0.58
-0.13
-0.20
0.76
-0.14
400
0.0042
0.64
-0.15
-0.25
0.71
-0.15
410
0.0047
0.70
-0.16
-0.29
0.66
-0.16
420
0.0050
0.75
-0.17
-0.35
0.61
-0.17
430
0.0053
0.79
-0.18
-0.40
0.55
-0.18
440
0.0055
0.81
-0.18
-0.46
0.50
-0.18
450
0.0056
0.82
-0.18
-0.51
0.45
-0.17
460
0.0056
0.81
-0.18
-0.57
0.39
-0.17
470
0.0054
0.79
-0.17
-0.62
0.34
-0.16
480
0.0052
0.75
-0.16
-0.67
0.30
-0.15
490
0.0049
0.71
-0.15
-0.72
0.26
-0.14
500
0.0045
0.66
-0.14
-0.76
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 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.