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 — 17 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)PL open contracts per strike for Fri, Nov 20.
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 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 77.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
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 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
9
0.0348
0.01
-0.01
-0.06
0.90
-0.01
10
0.0580
0.01
-0.01
-0.10
0.82
-0.01
11
0.0919
0.01
-0.01
-0.18
0.70
-0.01
12
0.1289
0.01
-0.02
-0.30
0.63
-0.02
12.5
0.1428
0.01
-0.02
-0.37
0.56
-0.02
13
0.1506
0.01
-0.02
-0.44
0.48
-0.02
13.5
0.1518
0.01
-0.02
-0.52
0.41
-0.02
14
0.1473
0.01
-0.02
-0.59
0.35
-0.02
14.5
0.1384
0.01
-0.02
-0.65
0.30
-0.02
15
0.1270
0.01
-0.01
-0.71
0.25
-0.01
15.5
0.1145
0.01
-0.01
-0.76
0.21
-0.01
16
0.1019
0.01
-0.01
-0.80
0.17
-0.01
16.5
0.0900
0.01
-0.01
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 34 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.