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 — 530 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)CMI 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 ≈ 42.6% · 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
0.89
-0.18
450
0.0029
0.28
-0.22
-0.12
0.86
-0.23
460
0.0035
0.34
-0.26
-0.15
0.81
-0.27
470
0.0042
0.38
-0.30
-0.20
0.77
-0.32
480
0.0048
0.44
-0.34
-0.24
0.72
-0.35
490
0.0054
0.49
-0.37
-0.30
0.66
-0.39
500
0.0059
0.53
-0.40
-0.35
0.60
-0.41
510
0.0062
0.56
-0.41
-0.42
0.53
-0.42
520
0.0064
0.58
-0.42
-0.48
0.47
-0.42
530
0.0065
0.58
-0.41
-0.54
0.41
-0.41
540
0.0064
0.56
-0.39
-0.61
0.34
-0.38
550
0.0061
0.53
-0.36
-0.67
0.29
-0.35
560
0.0057
0.49
-0.33
-0.72
0.24
-0.32
570
0.0052
0.46
-0.29
-0.77
0.19
-0.28
580
0.0046
0.41
-0.25
-0.81
0.15
-0.24
590
0.0040
0.35
-0.21
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 32 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.