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 — 250 — is the max pain price.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)TWLO 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 ≈ 64.8% · 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
0.82
-0.07
190
0.0023
0.46
-0.09
-0.18
0.81
-0.07
195
0.0024
0.48
-0.09
-0.20
0.79
-0.08
200
0.0025
0.50
-0.10
-0.21
0.76
-0.09
210
0.0028
0.54
-0.10
-0.25
0.72
-0.10
220
0.0030
0.58
-0.11
-0.28
0.69
-0.10
230
0.0031
0.61
-0.11
-0.32
0.66
-0.11
240
0.0033
0.64
-0.12
-0.35
0.62
-0.12
250
0.0034
0.66
-0.12
-0.39
0.59
-0.12
260
0.0035
0.68
-0.12
-0.42
0.55
-0.12
270
0.0035
0.69
-0.12
-0.46
0.52
-0.12
280
0.0036
0.69
-0.12
-0.49
0.49
-0.12
290
0.0036
0.69
-0.12
-0.53
0.46
-0.12
300
0.0036
0.69
-0.12
-0.56
0.43
-0.12
310
0.0036
0.68
-0.12
-0.59
0.40
-0.12
320
0.0035
0.67
-0.11
-0.62
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.