Event risk before this expiration:CPI release Wed, Oct 14 · 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 — 26 — is the max pain price.
Open interest by strike · Fri, Nov 13
■ calls (up)■ puts (down)DOW open contracts per strike for Fri, Nov 13.
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 13
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 13
— call IV— put IVATM ≈ 42.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 13
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 13
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.98
-0.00
20
0.0100
0.00
-0.00
-0.02
0.89
-0.01
24
0.0478
0.02
-0.01
-0.12
0.83
-0.01
25
0.0654
0.02
-0.01
-0.17
0.76
-0.02
26
0.0844
0.03
-0.02
-0.25
0.66
-0.02
27
0.1012
0.03
-0.02
-0.34
0.55
-0.02
28
0.1113
0.03
-0.02
-0.45
0.44
-0.02
29
0.1120
0.03
-0.02
-0.56
0.34
-0.02
30
0.1038
0.03
-0.02
-0.67
0.25
-0.02
31
0.0897
0.03
-0.02
-0.76
0.18
-0.01
32
0.0734
0.02
-0.01
-0.83
0.13
-0.01
33
0.0578
0.02
-0.01
-0.89
0.09
-0.01
34
0.0443
0.01
-0.01
-0.93
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.