Event risk before this expiration:FOMC decision Wed, Oct 28 · Jobs report Fri, Nov 6 — 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 — 230 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)IBM 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).
Implied volatility by strike · Fri, Nov 6
— call IV— put IVATM ≈ 47.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 6
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 6
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.08
195
0.0046
0.07
-0.08
-0.07
0.91
-0.11
200
0.0062
0.09
-0.11
-0.10
0.87
-0.13
205
0.0080
0.12
-0.14
-0.13
0.82
-0.17
210
0.0099
0.15
-0.17
-0.18
0.76
-0.20
215
0.0116
0.17
-0.20
-0.24
0.70
-0.22
220
0.0132
0.20
-0.22
-0.31
0.63
-0.24
225
0.0143
0.21
-0.24
-0.38
0.55
-0.25
230
0.0149
0.22
-0.25
-0.45
0.48
-0.25
235
0.0149
0.22
-0.26
-0.53
0.41
-0.25
240
0.0145
0.22
-0.25
-0.60
0.34
-0.23
245
0.0137
0.20
-0.23
-0.67
0.28
-0.21
250
0.0125
0.19
-0.21
-0.73
0.22
-0.19
255
0.0111
0.17
-0.19
-0.79
0.18
-0.17
260
0.0097
0.15
-0.17
-0.83
0.14
-0.14
265
0.0082
0.13
-0.15
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 33 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.