Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 — 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 — 160 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)ANET open contracts per strike for Fri, Dec 4.
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, Dec 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 4
— call IV— put IVATM ≈ 56.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 4
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, Dec 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.08
150
0.0050
0.11
-0.09
-0.11
0.86
-0.10
155
0.0061
0.13
-0.10
-0.14
0.82
-0.12
160
0.0072
0.16
-0.12
-0.17
0.78
-0.13
165
0.0083
0.18
-0.14
-0.22
0.73
-0.15
170
0.0093
0.20
-0.15
-0.27
0.68
-0.16
175
0.0102
0.21
-0.16
-0.32
0.63
-0.17
180
0.0110
0.23
-0.17
-0.37
0.57
-0.18
185
0.0115
0.24
-0.18
-0.43
0.51
-0.18
190
0.0117
0.24
-0.18
-0.49
0.46
-0.17
195
0.0117
0.24
-0.18
-0.55
0.40
-0.17
200
0.0115
0.23
-0.17
-0.60
0.35
-0.16
205
0.0110
0.22
-0.16
-0.66
0.30
-0.15
210
0.0104
0.21
-0.15
-0.71
0.25
-0.14
215
0.0096
0.19
-0.14
-0.75
0.21
-0.13
220
0.0087
0.18
-0.13
-0.80
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.