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 — 145 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)DHI 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 ≈ 39.8% · 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
0.99
-0.01
100
0.0015
0.01
-0.02
-0.02
0.90
-0.05
125
0.0097
0.08
-0.05
-0.11
0.81
-0.07
132
0.0148
0.13
-0.07
-0.20
0.79
-0.07
133
0.0155
0.14
-0.07
-0.21
0.77
-0.07
134
0.0162
0.14
-0.08
-0.23
0.60
-0.10
143
0.0209
0.18
-0.10
-0.41
0.55
-0.10
145
0.0214
0.18
-0.10
-0.45
0.53
-0.10
146
0.0216
0.18
-0.10
-0.47
0.49
-0.10
148
0.0216
0.18
-0.10
-0.52
0.45
-0.10
150
0.0215
0.18
-0.10
-0.56
0.19
-0.07
165
0.0146
0.13
-0.07
-0.82
0.04
-0.02
190
0.0038
0.04
-0.01
-0.97
0.02
-0.01
200
0.0023
0.02
-0.01
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.