What is the max pain price for FTNT?

As of the latest delayed data, FTNT's max pain for the Fri, Nov 6 expiration is 180, versus a spot price of 182.55 (-1.4% away). It recomputes as open interest shifts.

What are the FTNT call and put walls?

For Fri, Nov 6, the largest call open interest sits at the 200 strike and the largest put open interest at 160.

Is max pain a price prediction?

No. It is a positioning snapshot — the settle price that would minimize option writers’ payout. The theory that prices drift toward it is contested, and nothing on this page is investment advice.

Max pain // Cboe delayed data · as of Oct 28, 1:41 PM ET

FTNT max pain

Spot (delayed)$182.55

Max pain · Fri, Nov 6$180-1.4% vs spot

Expected move (ATM straddle)±$22.36±12.2% by Fri, Nov 6

Put/Call OI1.29945 puts / 733 calls

Call wall$200largest call OI

Put wall$160largest put OI

Fri, Oct 30175 Fri, Nov 6180 Fri, Nov 13180 Fri, Nov 20180 Fri, Nov 27170 Fri, Dec 4170 Fri, Dec 18145 Fri, Jan 15100 Fri, Mar 19155+4 further out

Event risk before this expiration: Jobs report Fri, Nov 6 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.

Max pain levels

Expiry	Max pain	vs spot	DTE
Fri, Oct 30	$175	-4.1%	2d
Fri, Nov 6	$180	-1.4%	9d
Fri, Nov 13	$180	-1.4%	16d
Fri, Nov 20	$180	-1.4%	23d
Fri, Nov 27	$170	-6.9%	30d
Fri, Dec 4	$170	-6.9%	37d
Fri, Dec 18	$145	-20.6%	51d
Fri, Jan 15	$100	-45.2%	79d
Fri, Mar 19	$155	-15.1%	142d

The writer-loss curve — where max pain comes from

■ 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 — 180 — is the max pain price.

Open interest by strike · Fri, Nov 6

■ calls (up)■ puts (down)FTNT open contracts per strike for Fri, Nov 6.

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 6

■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).

Greeks by strike · Fri, Nov 6

Call Δ	Call Θ	Strike	Γ	Vega	Put Θ	Put Δ
—	—	165	—	—	—	—
—	—	167.5	—	—	—	—
—	—	170	—	—	—	—
—	—	172.5	—	—	—	—
—	—	175	—	—	—	—
—	—	177.5	—	—	—	—
—	—	180	—	—	—	—
—	—	182.5	—	—	—	—
—	—	185	—	—	—	—
—	—	187.5	—	—	—	—
—	—	190	—	—	—	—
—	—	192.5	—	—	—	—
—	—	195	—	—	—	—
—	—	197.5	—	—	—	—
—	—	200	—	—	—	—

Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 48 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.

Stacked — layer the expirations

All expirations combined — total open interest

■ calls (up)■ puts (down)Every expiration combined: 74K call contracts, 79K put contracts open.

Reading this honestly

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.

Keep going: FTNT workspace · max pain, explained in full · options profit calculator · iron condor and credit spread calculator · GEX, defined · pin risk