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 — 27 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)ASST 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 ≈ 91.7% · 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
0.95
-0.01
17
0.0131
0.01
-0.01
-0.05
0.88
-0.02
20
0.0253
0.02
-0.02
-0.12
0.84
-0.03
21
0.0301
0.02
-0.03
-0.16
0.80
-0.03
22
0.0348
0.02
-0.03
-0.20
0.76
-0.03
23
0.0393
0.03
-0.03
-0.24
0.66
-0.04
25
0.0463
0.03
-0.04
-0.33
0.61
-0.04
26
0.0485
0.03
-0.04
-0.38
0.56
-0.04
27
0.0498
0.03
-0.04
-0.43
0.47
-0.04
29
0.0499
0.04
-0.04
-0.53
0.42
-0.04
30
0.0488
0.03
-0.04
-0.57
0.38
-0.04
31
0.0472
0.03
-0.04
-0.62
0.34
-0.04
32
0.0452
0.03
-0.04
-0.65
0.30
-0.04
33
0.0430
0.03
-0.04
-0.69
0.27
-0.04
34
0.0405
0.03
-0.04
-0.72
0.24
-0.03
35
0.0380
0.03
-0.03
-0.75
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 26 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.