Event risk before this expiration:FOMC decision Wed, Oct 28 · 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 — 155 — is the max pain price.
Open interest by strike · Fri, Nov 27
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Nov 27.
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. Biggest moves: 70 +318 · 140 +223 · 150 +219 · 165 +186
Volume by strike · Fri, Nov 27
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 27
— call IV— put IVATM ≈ 71.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 27
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 27
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.08
105
0.0046
0.06
-0.08
-0.09
0.89
-0.10
110
0.0059
0.08
-0.10
-0.11
0.85
-0.11
115
0.0074
0.10
-0.12
-0.15
0.81
-0.13
120
0.0089
0.11
-0.14
-0.19
0.75
-0.15
125
0.0104
0.13
-0.15
-0.25
0.69
-0.17
130
0.0117
0.14
-0.17
-0.31
0.63
-0.18
135
0.0127
0.16
-0.18
-0.37
0.56
-0.18
140
0.0134
0.16
-0.19
-0.44
0.50
-0.19
145
0.0136
0.16
-0.19
-0.51
0.43
-0.18
150
0.0135
0.16
-0.18
-0.57
0.37
-0.18
155
0.0129
0.15
-0.18
-0.63
0.31
-0.17
160
0.0122
0.15
-0.17
-0.69
0.26
-0.15
165
0.0112
0.13
-0.15
-0.74
0.22
-0.14
170
0.0101
0.12
-0.14
-0.79
0.18
-0.12
175
0.0090
0.11
-0.12
-0.82
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 45 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.