Event risk before this expiration: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 — 280 — is the max pain price.
Open interest by strike · Fri, Apr 16
■ calls (up)■ puts (down)WTW 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 ≈ 27.0% · 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
0.96
-0.00
195
0.0008
0.16
-0.02
-0.04
0.96
-0.01
200
0.0010
0.19
-0.02
-0.04
0.95
-0.01
210
0.0012
0.22
-0.02
-0.05
0.94
-0.01
220
0.0015
0.27
-0.03
-0.06
0.87
-0.03
250
0.0030
0.45
-0.04
-0.13
0.75
-0.05
280
0.0050
0.69
-0.05
-0.25
0.64
-0.06
300
0.0062
0.82
-0.06
-0.37
0.57
-0.06
310
0.0066
0.85
-0.06
-0.44
0.44
-0.06
330
0.0068
0.86
-0.06
-0.58
0.38
-0.06
340
0.0066
0.83
-0.06
-0.64
0.32
-0.06
350
0.0062
0.79
-0.06
-0.70
0.27
-0.05
360
0.0057
0.73
-0.05
-0.76
0.23
-0.05
370
0.0051
0.67
-0.05
-0.81
0.09
-0.03
420
0.0027
0.37
-0.04
-0.99
0.08
-0.02
430
0.0023
0.33
-0.04
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 21 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.