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 — 12 — is the max pain price.
Open interest by strike · Fri, Nov 27
■ calls (up)■ puts (down)F open contracts per strike for Fri, Nov 27.
Open-interest change · 2026-10-21 → 2026-10-22
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot: where the walls are building and where they’re unwinding. Only strikes observed on both days are compared. Biggest moves: 11 +101 · 11.5 +65 · 7.5 +26 · 7 +23
Volume by strike · Fri, Nov 27
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 27
— call IV— put IVATM ≈ 36.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 27
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 27
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
—
8.5
0.0108
0.00
-0.00
-0.02
0.99
0.00
9
0.0240
0.00
-0.00
-0.04
0.97
-0.00
9.5
0.0493
0.00
-0.00
-0.06
0.94
-0.00
10
0.0934
0.00
-0.00
-0.10
0.88
-0.01
10.5
0.1588
0.01
-0.01
-0.16
0.79
-0.01
11
0.2361
0.01
-0.01
-0.25
0.65
-0.01
11.5
0.2977
0.01
-0.01
-0.38
0.50
-0.01
12
0.3149
0.01
-0.01
-0.52
0.35
-0.01
12.5
0.2846
0.01
-0.01
-0.67
0.23
-0.01
13
0.2280
0.01
-0.01
-0.78
0.15
-0.00
13.5
0.1685
0.01
-0.00
-0.86
0.10
-0.00
14
0.1188
0.01
-0.00
-0.92
0.06
-0.00
14.5
0.0820
0.01
-0.00
-0.95
0.04
-0.00
15
0.0562
0.00
-0.00
-0.97
0.03
-0.00
15.5
0.0389
0.00
—
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 20 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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.