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 — 116 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)BX 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 ≈ 35.6% · 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
0.72
-0.06
113
0.0248
0.13
-0.07
-0.29
0.69
-0.06
114
0.0256
0.13
-0.07
-0.31
0.67
-0.07
115
0.0265
0.14
-0.07
-0.34
0.64
-0.07
116
0.0274
0.14
-0.07
-0.36
0.61
-0.07
117
0.0281
0.14
-0.07
-0.39
0.58
-0.07
118
0.0288
0.15
-0.07
-0.42
0.55
-0.07
119
0.0294
0.15
-0.07
-0.45
0.52
-0.07
120
0.0297
0.15
-0.07
-0.48
0.49
-0.07
121
0.0300
0.15
-0.07
-0.51
0.46
-0.07
122
0.0300
0.15
-0.07
-0.54
0.43
-0.07
123
0.0300
0.15
-0.07
-0.57
0.40
-0.07
124
0.0297
0.15
-0.07
-0.60
0.38
-0.07
125
0.0292
0.14
-0.07
-0.63
0.35
-0.07
126
0.0286
0.14
-0.06
-0.66
0.24
-0.05
130
0.0247
0.12
-0.05
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.