Event risk before this expiration:FOMC decision Wed, Oct 28 · 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 — 118 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)DLTR 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 ≈ 44.6% · 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
0.71
-0.08
117
0.0188
0.14
-0.08
-0.29
0.69
-0.08
118
0.0195
0.14
-0.08
-0.31
0.67
-0.08
119
0.0201
0.15
-0.08
-0.33
0.65
-0.09
120
0.0206
0.15
-0.09
-0.35
0.63
-0.09
121
0.0211
0.15
-0.09
-0.38
0.60
-0.09
122
0.0215
0.16
-0.09
-0.40
0.58
-0.09
123
0.0218
0.16
-0.09
-0.42
0.54
-0.09
125
0.0222
0.16
-0.09
-0.47
0.52
-0.09
126
0.0223
0.16
-0.09
-0.49
0.47
-0.09
128
0.0222
0.16
-0.09
-0.53
0.28
-0.08
138
0.0185
0.14
-0.08
-0.73
0.27
-0.08
139
0.0179
0.13
-0.08
-0.74
0.09
-0.04
160
0.0075
0.07
-0.04
-0.93
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 19 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.