Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 — 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 — 515 — is the max pain price.
Open interest by strike · Wed, Nov 11
■ calls (up)■ puts (down)MSFT open contracts per strike for Wed, Nov 11.
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; 10 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 530 +66 · 535 +51 · 540 +44 · 525 +39
Volume by strike · Wed, Nov 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Nov 11
— call IV— put IVATM ≈ 26.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Nov 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.17
495
0.0059
0.17
-0.19
-0.10
0.87
-0.21
500
0.0073
0.21
-0.22
-0.13
0.84
-0.25
505
0.0088
0.25
-0.26
-0.17
0.79
-0.29
510
0.0105
0.29
-0.30
-0.21
0.73
-0.33
515
0.0121
0.33
-0.34
-0.27
0.67
-0.37
520
0.0136
0.36
-0.37
-0.33
0.60
-0.39
525
0.0146
0.39
-0.40
-0.40
0.53
-0.40
530
0.0152
0.40
-0.41
-0.48
0.45
-0.40
535
0.0152
0.40
-0.40
-0.55
0.38
-0.38
540
0.0146
0.38
-0.38
-0.63
0.31
-0.35
545
0.0136
0.35
-0.35
-0.70
0.24
-0.31
550
0.0122
0.32
-0.31
-0.76
0.19
-0.26
555
0.0105
0.27
-0.26
-0.82
0.14
-0.22
560
0.0088
0.23
-0.21
-0.87
0.11
-0.18
565
0.0071
0.19
-0.17
-0.91
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 29 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.