Max Pain by Ticker - the Strike Where Options Expire Worthless
The max pain strike and the pain by strike for supported tickers, each on its own page with a free chart. New tickers appear here as their pages are released.
Tickers
Index & broad-market
The index complex is where dealer gamma matters most - 0DTE flows in SPY, SPX and QQQ can dominate intraday price action.
Sector, commodity & bond ETF
Sector and macro ETFs concentrate hedging into a handful of strikes, which makes their call and put walls unusually clean to read.
Leveraged & volatility ETF
Daily-reset leverage and volatility products carry the most reflexive gamma on the board - small spot moves force outsized hedging.
Mega-cap
The largest single-stock options markets. Earnings cycles drive gamma buildup and regime flips in these names.
Semiconductor & AI hardware
Chip names carry the heaviest speculative options flow of the AI cycle, and their gamma regimes move together.
Crypto equity & miner
Crypto proxies inherit Bitcoin's volatility regime, so they flip between positive and negative gamma faster than anything else in equities.
Software & cybersecurity
Enterprise software gamma is earnings-cyclical: positioning builds into the report, then resets within days.
Financials & energy
Bank and oil options trade around macro data and commodity prices, giving these names gamma profiles driven by rates and crude rather than growth stories.
Consumer, healthcare & industrial
Slower-moving options markets where covered-call and collar programs keep gamma persistently positive - and pins into monthly OPEX unusually reliable.
Dividend and income
Explore gamma exposure for dividend-focused companies and income-sensitive products, with options positioning organized around commonly watched strikes.
Retail favorites & meme
Names where speculative options flow - and the gamma squeezes it can trigger - is part of how the stock trades.
EV, space & speculative growth
Low-priced, high-volatility stories where cheap weekly calls stack gamma fast and the walls sit close to spot.
Any other ticker
The free max pain calculator works with any optionable US stock or ETF - enter a symbol and an expiration to see the max pain strike and the pain by strike. For intraday levels, alerts, and the heatmap, open the GEX Dashboard.