Event risk before this expiration:FOMC decision Wed, Oct 28 · 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 — 270 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)ARM 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 ≈ 72.6% · 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
0.91
-0.12
180
0.0030
0.13
-0.13
-0.09
0.89
-0.14
185
0.0034
0.14
-0.14
-0.11
0.87
-0.16
190
0.0039
0.17
-0.16
-0.14
0.84
-0.17
195
0.0044
0.18
-0.18
-0.16
0.81
-0.19
200
0.0049
0.20
-0.20
-0.19
0.75
-0.23
210
0.0058
0.24
-0.23
-0.25
0.69
-0.26
220
0.0065
0.27
-0.26
-0.32
0.61
-0.28
230
0.0070
0.29
-0.28
-0.39
0.54
-0.29
240
0.0072
0.30
-0.29
-0.46
0.47
-0.29
250
0.0073
0.30
-0.30
-0.53
0.41
-0.29
260
0.0070
0.29
-0.29
-0.60
0.34
-0.27
270
0.0067
0.28
-0.27
-0.66
0.29
-0.26
280
0.0062
0.26
-0.26
-0.72
0.24
-0.23
290
0.0056
0.24
-0.23
-0.76
0.20
-0.21
300
0.0050
0.21
-0.21
-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 60 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.