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 — 23 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)KHC 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 ≈ 31.1% · 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
1.00
—
15
0.0023
0.00
0.00
-0.00
0.93
-0.01
19.5
0.0585
0.01
-0.01
-0.07
0.90
-0.01
20
0.0810
0.01
-0.01
-0.10
0.86
-0.01
20.5
0.1089
0.01
-0.01
-0.14
0.80
-0.01
21
0.1407
0.02
-0.01
-0.21
0.72
-0.01
21.5
0.1728
0.02
-0.01
-0.28
0.63
-0.01
22
0.1992
0.02
-0.01
-0.38
0.52
-0.01
22.5
0.2135
0.02
-0.02
-0.48
0.42
-0.01
23
0.2118
0.02
-0.01
-0.59
0.32
-0.01
23.5
0.1947
0.02
-0.01
-0.69
0.23
-0.01
24
0.1668
0.02
-0.01
-0.78
0.17
-0.01
24.5
0.1345
0.01
-0.01
-0.86
0.11
-0.01
25
0.1034
0.01
-0.01
-0.91
0.08
-0.01
25.5
0.0765
0.01
-0.01
-0.95
0.05
-0.00
26
0.0550
0.01
-0.00
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 19 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.