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 — 9.5 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)OWL 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 ≈ 60.4% · 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
-0.00
4
0.0061
0.00
-0.00
-0.01
0.95
-0.01
7
0.0603
0.00
-0.01
-0.05
0.92
-0.01
7.5
0.0945
0.00
-0.01
-0.08
0.88
-0.01
8
0.1505
0.00
-0.01
-0.13
0.80
-0.01
8.5
0.2372
0.01
-0.01
-0.21
0.66
-0.01
9
0.3417
0.01
-0.01
-0.34
0.47
-0.01
9.5
0.3886
0.01
-0.01
-0.53
0.30
-0.01
10
0.3310
0.01
-0.01
-0.70
0.19
-0.01
10.5
0.2399
0.01
-0.01
-0.82
0.12
-0.01
11
0.1661
0.00
-0.01
-0.89
0.08
-0.01
11.5
0.1152
0.00
-0.01
-0.93
0.03
-0.00
13
0.0432
0.00
-0.00
-0.98
0.01
-0.00
14.5
0.0191
0.00
-0.00
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.