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 — 430 — is the max pain price.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)TSM 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 ≈ 36.2% · 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
0.84
-0.06
360
0.0022
0.75
-0.08
-0.17
0.81
-0.07
370
0.0024
0.82
-0.09
-0.20
0.78
-0.08
380
0.0027
0.89
-0.10
-0.23
0.75
-0.09
390
0.0029
0.95
-0.10
-0.26
0.72
-0.09
400
0.0031
1.01
-0.11
-0.29
0.69
-0.10
410
0.0032
1.06
-0.11
-0.32
0.65
-0.11
420
0.0034
1.11
-0.12
-0.36
0.62
-0.11
430
0.0035
1.15
-0.12
-0.40
0.58
-0.11
440
0.0036
1.17
-0.12
-0.43
0.55
-0.12
450
0.0037
1.19
-0.12
-0.47
0.51
-0.12
460
0.0037
1.19
-0.12
-0.51
0.47
-0.12
470
0.0037
1.19
-0.12
-0.55
0.44
-0.12
480
0.0037
1.18
-0.12
-0.58
0.41
-0.12
490
0.0036
1.16
-0.12
-0.62
0.38
-0.11
500
0.0035
1.14
-0.11
-0.65
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 42 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.