Today maximum pain is re-launching two pages. They are the max pain history page and high open interest page.
Back on July 1st 2015 we began storing the daily option data for the stocks of the S&P 500. This is data is part of a larger project designed to have free source for historical option data. Maximum pain currently uses both Google finance and Yahoo finance as data sources. While these are great free sources of option data, they offer no historical data. That means you can get todays option data, but you can't get yesterdays, last weeks or last months.
The data we've captured can be used for a history of max pain for any of the 500 sticks we're tracking. The max pain history is self explanatory. Did max pain work last week, last month or last year? We had multiple requests have this kind of history. Now we have a way to check. You can pull up the option data for any expiration and see what was the stock price, the max pain cash value, the highest call strike and highest put strike for the 2 weeks prior to expiration.
The high open interest also uses our new data. This page finds the stocks that have the highest number of open contracts. The weekly option threshold is 50,000 contracts. THe monthly option threshold is 200,000 contracts. If the number of open contracts exceeds the threshold, then the stock appears on our chart. Whay is this valuable? In order for max pain to have an effect on the stock price, the hedge position by the MM must be large. The more open contracts, the larger the hedge position and the bigger effect on the stock prices. In other words, the options become the tail wagging the dog. AAPL consistently exceeds these thresholds and is our personal favorite stock to trade options. But what other stocks have a high number of open contracts? Now you can find out at the click of a button.