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 — 28 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)FBL 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 ≈ 74.5% · 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
0.94
-0.01
18
0.0227
0.01
-0.01
-0.06
0.91
-0.01
19
0.0318
0.01
-0.01
-0.09
0.86
-0.02
20
0.0424
0.01
-0.02
-0.14
0.81
-0.02
21
0.0536
0.02
-0.02
-0.19
0.74
-0.03
22
0.0640
0.02
-0.03
-0.26
0.67
-0.03
23
0.0723
0.03
-0.03
-0.33
0.59
-0.04
24
0.0775
0.03
-0.04
-0.41
0.51
-0.04
25
0.0794
0.03
-0.04
-0.49
0.44
-0.04
26
0.0781
0.03
-0.04
-0.56
0.37
-0.03
27
0.0742
0.03
-0.03
-0.64
0.30
-0.03
28
0.0685
0.02
-0.03
-0.70
0.25
-0.03
29
0.0618
0.02
-0.03
-0.75
0.20
-0.03
30
0.0546
0.02
-0.03
-0.80
0.16
-0.02
31
0.0474
0.02
-0.02
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 32 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.