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 — 200 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)CTAS 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 ≈ 24.8% · 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
0.88
-0.06
207.5
0.0118
0.12
-0.07
-0.13
0.86
-0.07
210
0.0141
0.13
-0.08
-0.15
0.82
-0.08
212.5
0.0168
0.15
-0.09
-0.19
0.78
-0.09
215
0.0196
0.17
-0.09
-0.23
0.73
-0.10
217.5
0.0225
0.20
-0.10
-0.28
0.68
-0.11
220
0.0251
0.21
-0.11
-0.34
0.61
-0.11
222.5
0.0271
0.23
-0.11
-0.40
0.54
-0.12
225
0.0282
0.23
-0.11
-0.47
0.47
-0.12
227.5
0.0282
0.23
-0.11
-0.54
0.40
-0.11
230
0.0272
0.23
-0.11
-0.60
0.34
-0.11
232.5
0.0254
0.22
-0.10
-0.67
0.29
-0.10
235
0.0230
0.20
-0.10
-0.72
0.20
-0.09
240
0.0180
0.17
-0.08
-0.80
0.14
-0.07
245
0.0136
0.13
-0.07
-0.86
0.10
-0.06
250
0.0101
0.11
-0.06
-0.90
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.