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 — 550 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)CW 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
-0.20
420
0.0026
0.26
-0.21
-0.11
0.86
-0.23
430
0.0032
0.31
-0.24
-0.14
0.83
-0.27
440
0.0038
0.36
-0.28
-0.17
0.79
-0.30
450
0.0045
0.41
-0.31
-0.21
0.74
-0.33
460
0.0052
0.46
-0.34
-0.26
0.69
-0.35
470
0.0058
0.50
-0.36
-0.31
0.63
-0.37
480
0.0063
0.54
-0.38
-0.38
0.56
-0.39
490
0.0067
0.56
-0.39
-0.44
0.49
-0.39
500
0.0068
0.56
-0.39
-0.51
0.43
-0.38
510
0.0067
0.56
-0.38
-0.58
0.36
-0.36
520
0.0065
0.53
-0.36
-0.64
0.31
-0.34
530
0.0060
0.50
-0.34
-0.70
0.26
-0.31
540
0.0055
0.46
-0.31
-0.75
0.21
-0.28
550
0.0049
0.41
-0.28
-0.80
0.17
-0.25
560
0.0043
0.37
-0.26
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 54 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.