Event risk before this expiration: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 — 700 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)EME 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 ≈ 56.7% · 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
0.79
-0.62
610
0.0029
0.50
-0.63
-0.21
0.76
-0.67
620
0.0032
0.54
-0.68
-0.24
0.72
-0.71
630
0.0034
0.57
-0.72
-0.28
0.69
-0.75
640
0.0036
0.61
-0.75
-0.32
0.65
-0.78
650
0.0038
0.63
-0.78
-0.35
0.61
-0.80
660
0.0040
0.66
-0.81
-0.39
0.57
-0.81
670
0.0041
0.67
-0.82
-0.43
0.52
-0.82
680
0.0042
0.68
-0.82
-0.48
0.48
-0.82
690
0.0042
0.68
-0.82
-0.52
0.44
-0.81
700
0.0042
0.67
-0.81
-0.56
0.40
-0.79
710
0.0041
0.66
-0.79
-0.60
0.36
-0.76
720
0.0040
0.64
-0.76
-0.64
0.33
-0.73
730
0.0038
0.62
-0.73
-0.68
0.29
-0.69
740
0.0036
0.59
-0.69
-0.71
0.26
-0.65
750
0.0034
0.55
-0.65
-0.74
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.