Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 660 — is the max pain price.
Open interest by strike · Wed, Nov 4
■ calls (up)■ puts (down)META open contracts per strike for Wed, Nov 4.
Open-interest change · 2026-10-23 → 2026-10-26
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; 10 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 700 +55 · 625 +31 · 670 +26 · 600 +21
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 ≈ 42.7% · 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
0.73
-0.77
607.5
0.0079
0.33
-0.78
-0.27
0.71
-0.80
610
0.0082
0.34
-0.81
-0.29
0.69
-0.83
612.5
0.0085
0.35
-0.83
-0.31
0.67
-0.85
615
0.0087
0.36
-0.86
-0.34
0.64
-0.87
617.5
0.0089
0.37
-0.88
-0.36
0.62
-0.89
620
0.0091
0.38
-0.90
-0.38
0.57
-0.92
625
0.0094
0.39
-0.92
-0.43
0.53
-0.93
630
0.0096
0.40
-0.94
-0.48
0.50
-0.94
632.5
0.0096
0.40
-0.94
-0.50
0.48
-0.93
635
0.0096
0.40
-0.94
-0.52
0.45
-0.93
637.5
0.0095
0.39
-0.93
-0.55
0.43
-0.92
640
0.0094
0.39
-0.93
-0.57
0.41
-0.91
642.5
0.0093
0.39
-0.92
-0.59
0.39
-0.90
645
0.0092
0.38
-0.90
-0.62
0.34
-0.86
650
0.0088
0.36
-0.86
-0.66
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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.