Max pain is not shown: without its single heaviest strike it moves 13% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
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.
Max pain is not shown: without its single heaviest strike it moves 13% of spot, more than the 5% we allow, so one strike decides it. Walls and gamma still print.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)VEEV open contracts per strike for Fri, Mar 19.
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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 46.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 19
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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.07
240
0.0026
0.44
-0.08
-0.15
0.82
-0.08
250
0.0029
0.50
-0.09
-0.19
0.78
-0.09
260
0.0033
0.56
-0.10
-0.22
0.74
-0.10
270
0.0036
0.61
-0.11
-0.26
0.70
-0.11
280
0.0039
0.66
-0.11
-0.30
0.66
-0.11
290
0.0042
0.69
-0.12
-0.35
0.61
-0.12
300
0.0044
0.72
-0.12
-0.39
0.57
-0.12
310
0.0045
0.74
-0.13
-0.44
0.53
-0.12
320
0.0046
0.75
-0.13
-0.49
0.48
-0.12
330
0.0046
0.75
-0.13
-0.53
0.44
-0.12
340
0.0045
0.74
-0.13
-0.57
0.40
-0.12
350
0.0044
0.73
-0.12
-0.62
0.36
-0.12
360
0.0043
0.71
-0.12
-0.66
0.33
-0.11
370
0.0041
0.68
-0.12
-0.69
0.29
-0.11
380
0.0039
0.65
-0.11
-0.73
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 49 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.
Max pain, walls and gamma print only when an expiration holds at least 100 open contracts across 5 strikes, and max pain also needs to stay within 5% of spot when its single heaviest strike is removed. Below that the expiration reads as thin rather than printing a level one trade could move.
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.