■ 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 — 280 — is the max pain price.
Open interest by strike · Wed, Nov 4
■ calls (up)■ puts (down)IWM open contracts per strike for Wed, Nov 4.
Open-interest change · 2026-10-28 → 2026-10-29
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; 1 strike was in only one day’s snapshot (each keeps its largest strikes) and is left out. Biggest moves: 285 +727 · 275 +638 · 277 +503 · 276 +487
Volume by strike · Wed, Nov 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Nov 4
— call IV— put IVATM ≈ 17.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Nov 4
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 · Wed, Nov 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.13
277
0.0316
0.09
-0.14
-0.15
0.82
-0.15
278
0.0364
0.10
-0.15
-0.18
0.79
-0.17
279
0.0414
0.11
-0.17
-0.21
0.75
-0.18
280
0.0466
0.12
-0.18
-0.25
0.70
-0.20
281
0.0516
0.13
-0.20
-0.30
0.65
-0.21
282
0.0562
0.14
-0.21
-0.35
0.59
-0.21
283
0.0600
0.14
-0.21
-0.41
0.53
-0.21
284
0.0627
0.15
-0.22
-0.47
0.47
-0.21
285
0.0639
0.15
-0.21
-0.53
0.41
-0.20
286
0.0633
0.14
-0.20
-0.60
0.34
-0.19
287
0.0608
0.14
-0.19
-0.66
0.31
-0.18
287.5
0.0589
0.13
-0.18
-0.69
0.28
-0.17
288
0.0566
0.13
-0.17
-0.72
0.23
-0.15
289
0.0509
0.11
-0.15
-0.78
0.18
-0.13
290
0.0444
0.10
-0.13
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 49 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.