Event risk before this expiration:FOMC decision Wed, Sep 16 · Jobs report Fri, Oct 2 · CPI release Wed, Oct 14 · FOMC decision Wed, Oct 28 · 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 — 20 — is the max pain price.
Open interest by strike · Wed, Dec 16
■ calls (up)■ puts (down)VIX open contracts per strike for Wed, Dec 16.
Open-interest change · 2026-09-10 → 2026-09-11
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot — where the walls are building and where they’re unwinding. Biggest moves: 30 +25K · 35 +25K · 18 +18K · 27 +7K
Volume by strike · Wed, Dec 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Dec 16
— call IV— put IVATM ≈ 56.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Dec 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 · Wed, Dec 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.00
12
0.0108
0.01
-0.00
-0.02
0.96
-0.00
12.5
0.0141
0.01
-0.00
-0.03
0.95
-0.00
13
0.0186
0.01
-0.00
-0.04
0.93
-0.00
13.5
0.0243
0.01
-0.00
-0.06
0.91
-0.00
14
0.0308
0.01
-0.00
-0.08
0.88
-0.01
14.5
0.0372
0.02
-0.01
-0.11
0.85
-0.01
15
0.0431
0.02
-0.01
-0.14
0.78
-0.01
16
0.0519
0.03
-0.01
-0.21
0.70
-0.01
17
0.0564
0.03
-0.01
-0.28
0.64
-0.01
18
0.0576
0.04
-0.01
-0.35
0.58
-0.01
19
0.0569
0.04
-0.01
-0.41
0.53
-0.01
20
0.0551
0.04
-0.01
-0.46
0.48
-0.01
21
0.0529
0.04
-0.01
-0.50
0.45
-0.02
22
0.0504
0.04
-0.02
-0.54
0.41
-0.02
23
0.0479
0.04
-0.02
-0.58
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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.