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 — 10 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)NVAX 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 ≈ 117.8% · 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
0.99
-0.01
4
0.0084
0.00
-0.01
-0.01
0.90
-0.01
7.5
0.0826
0.00
-0.01
-0.11
0.85
-0.02
8
0.1147
0.01
-0.02
-0.15
0.79
-0.02
8.5
0.1544
0.01
-0.02
-0.22
0.70
-0.02
9
0.1938
0.01
-0.02
-0.31
0.59
-0.03
9.5
0.2180
0.01
-0.03
-0.41
0.48
-0.03
10
0.2183
0.01
-0.03
-0.52
0.39
-0.03
10.5
0.2010
0.01
-0.03
-0.62
0.31
-0.03
11
0.1768
0.01
-0.03
-0.69
0.26
-0.02
11.5
0.1525
0.01
-0.02
-0.75
0.21
-0.02
12
0.1307
0.01
-0.02
-0.79
0.18
-0.02
12.5
0.1121
0.01
-0.02
-0.83
0.15
-0.02
13
0.0966
0.00
-0.02
-0.86
0.13
-0.02
13.5
0.0836
0.00
-0.02
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 25 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.