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 — 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 — 260 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)APP 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 ≈ 76.2% · 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
0.79
-0.24
220
0.0043
0.25
-0.25
-0.21
0.73
-0.27
230
0.0049
0.28
-0.28
-0.26
0.71
-0.29
235
0.0052
0.29
-0.29
-0.29
0.68
-0.30
240
0.0054
0.30
-0.30
-0.32
0.65
-0.31
245
0.0056
0.32
-0.31
-0.35
0.62
-0.32
250
0.0058
0.32
-0.32
-0.38
0.59
-0.32
255
0.0059
0.33
-0.33
-0.41
0.56
-0.33
260
0.0060
0.34
-0.33
-0.44
0.50
-0.33
270
0.0061
0.34
-0.33
-0.50
0.47
-0.33
275
0.0061
0.34
-0.33
-0.53
0.44
-0.32
280
0.0061
0.34
-0.33
-0.56
0.41
-0.32
285
0.0060
0.33
-0.32
-0.59
0.39
-0.31
290
0.0059
0.33
-0.31
-0.62
0.36
-0.30
295
0.0058
0.32
-0.30
-0.64
0.33
-0.30
300
0.0056
0.31
-0.30
-0.67
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 23 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.