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 — 23 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)S 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 ≈ 58.7% · 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
0.85
-0.02
22
0.0582
0.02
-0.02
-0.15
0.82
-0.02
22.5
0.0672
0.02
-0.02
-0.18
0.78
-0.02
23
0.0762
0.02
-0.02
-0.22
0.74
-0.02
23.5
0.0849
0.02
-0.03
-0.26
0.69
-0.03
24
0.0926
0.02
-0.03
-0.31
0.64
-0.03
24.5
0.0988
0.03
-0.03
-0.36
0.59
-0.03
25
0.1032
0.03
-0.03
-0.41
0.54
-0.03
25.5
0.1054
0.03
-0.03
-0.47
0.48
-0.03
26
0.1056
0.03
-0.03
-0.52
0.43
-0.03
26.5
0.1039
0.03
-0.03
-0.57
0.39
-0.03
27
0.1005
0.03
-0.03
-0.62
0.34
-0.03
27.5
0.0958
0.03
-0.03
-0.66
0.30
-0.03
28
0.0902
0.02
-0.03
-0.70
0.23
-0.02
29
0.0773
0.02
-0.02
-0.78
0.17
-0.02
30
0.0642
0.02
-0.02
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 27 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.