■ 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 — 20 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)SA 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 ≈ 70.1% · 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
0.81
-0.01
25
0.0228
0.04
-0.01
-0.18
0.78
-0.01
26
0.0250
0.05
-0.02
-0.21
0.75
-0.02
27
0.0270
0.05
-0.02
-0.25
0.72
-0.02
28
0.0288
0.06
-0.02
-0.28
0.69
-0.02
29
0.0303
0.06
-0.02
-0.31
0.65
-0.02
30
0.0316
0.06
-0.02
-0.35
0.62
-0.02
31
0.0325
0.06
-0.02
-0.38
0.58
-0.02
32
0.0331
0.07
-0.02
-0.41
0.55
-0.02
33
0.0334
0.07
-0.02
-0.45
0.52
-0.02
34
0.0335
0.07
-0.02
-0.48
0.49
-0.02
35
0.0334
0.07
-0.02
-0.51
0.46
-0.02
36
0.0330
0.07
-0.02
-0.54
0.43
-0.02
37
0.0325
0.07
-0.02
-0.57
0.41
-0.02
38
0.0319
0.07
-0.02
-0.59
0.36
-0.02
40
0.0303
0.06
-0.02
-0.64
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 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.