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 — 500 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)CACC 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 ≈ 33.9% · 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
-0.31
420
0.0015
0.22
-0.32
-0.09
0.89
-0.32
440
0.0020
0.26
-0.33
-0.11
0.88
-0.33
450
0.0023
0.28
-0.34
-0.12
0.80
-0.35
490
0.0045
0.40
-0.35
-0.20
0.76
-0.35
500
0.0053
0.43
-0.35
-0.24
0.72
-0.35
510
0.0064
0.48
-0.36
-0.28
0.66
-0.36
520
0.0075
0.52
-0.36
-0.34
0.58
-0.36
530
0.0084
0.55
-0.36
-0.42
0.41
-0.36
550
0.0083
0.55
-0.36
-0.59
0.34
-0.36
560
0.0074
0.52
-0.36
-0.65
0.29
-0.36
570
0.0064
0.48
-0.36
-0.70
0.20
-0.35
600
0.0042
0.39
-0.34
-0.80
0.18
-0.35
610
0.0038
0.37
-0.34
-0.82
0.16
-0.35
620
0.0034
0.34
-0.33
-0.84
0.08
-0.30
720
0.0014
0.21
-0.27
-0.92
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.