Event risk before this expiration:CPI release Wed, Oct 14 · 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 — 58 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)MDLZ 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 ≈ 24.9% · 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
0.89
-0.02
54
0.0316
0.03
-0.02
-0.11
0.88
-0.02
55
0.0390
0.04
-0.02
-0.13
0.85
-0.02
56
0.0490
0.04
-0.02
-0.15
0.80
-0.02
57
0.0614
0.05
-0.02
-0.20
0.74
-0.03
58
0.0749
0.06
-0.03
-0.26
0.66
-0.03
59
0.0869
0.06
-0.03
-0.34
0.57
-0.03
60
0.0950
0.07
-0.03
-0.44
0.47
-0.03
61
0.0974
0.07
-0.03
-0.53
0.38
-0.03
62
0.0936
0.06
-0.03
-0.63
0.29
-0.03
63
0.0843
0.06
-0.03
-0.72
0.22
-0.02
64
0.0718
0.05
-0.02
-0.79
0.17
-0.02
65
0.0588
0.04
-0.02
-0.84
0.14
-0.02
66
0.0479
0.04
-0.02
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 14 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.