Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 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 — 152.5 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)ALGN open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 36.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
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, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.11
136
0.0154
0.10
-0.11
-0.18
0.80
-0.11
137
0.0164
0.10
-0.11
-0.20
0.76
-0.12
140
0.0196
0.11
-0.12
-0.24
0.65
-0.13
145
0.0247
0.13
-0.13
-0.35
0.62
-0.13
146
0.0255
0.14
-0.13
-0.38
0.60
-0.13
147
0.0262
0.14
-0.14
-0.40
0.57
-0.14
148
0.0268
0.14
-0.14
-0.43
0.55
-0.14
149
0.0272
0.14
-0.14
-0.46
0.52
-0.14
150
0.0274
0.14
-0.14
-0.48
0.45
-0.14
152.5
0.0273
0.14
-0.14
-0.55
0.39
-0.13
155
0.0262
0.14
-0.13
-0.62
0.33
-0.13
157.5
0.0245
0.13
-0.13
-0.68
0.27
-0.12
160
0.0223
0.12
-0.12
-0.73
0.23
-0.11
162.5
0.0200
0.11
-0.11
-0.78
0.19
-0.10
165
0.0176
0.10
-0.10
-0.81
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 38 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.