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 — 2160 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)FCNCA 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 ≈ 25.9% · 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
0.83
-0.87
2220
0.0014
1.71
-0.88
-0.18
0.80
-0.93
2240
0.0015
1.86
-0.94
-0.20
0.77
-0.99
2260
0.0016
2.01
-1.00
-0.23
0.74
-1.05
2280
0.0018
2.16
-1.06
-0.27
0.70
-1.10
2300
0.0020
2.29
-1.11
-0.30
0.66
-1.14
2320
0.0021
2.42
-1.16
-0.34
0.62
-1.17
2340
0.0022
2.51
-1.19
-0.39
0.53
-1.20
2380
0.0024
2.62
-1.23
-0.48
0.48
-1.19
2400
0.0024
2.63
-1.22
-0.53
0.43
-1.17
2420
0.0024
2.60
-1.20
-0.58
0.39
-1.13
2440
0.0023
2.53
-1.17
-0.62
0.13
-0.62
2600
0.0012
1.39
-0.70
-0.90
0.06
-0.37
2700
0.0006
0.79
-0.36
-0.97
0.03
-0.21
2800
0.0003
0.44
-0.10
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 60 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.