Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 52 — is the max pain price.
Open interest by strike · Wed, Oct 28
■ calls (up)■ puts (down)SLV open contracts per strike for Wed, Oct 28.
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 · Wed, Oct 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Oct 28
— call IV— put IVATM ≈ 31.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Oct 28
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 · Wed, Oct 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.03
49
0.0642
0.01
-0.03
-0.10
0.87
-0.04
49.5
0.0803
0.01
-0.04
-0.13
0.83
-0.04
50
0.0993
0.02
-0.04
-0.17
0.78
-0.05
50.5
0.1201
0.02
-0.05
-0.22
0.72
-0.06
51
0.1408
0.03
-0.06
-0.28
0.65
-0.06
51.5
0.1587
0.03
-0.06
-0.35
0.56
-0.07
52
0.1705
0.03
-0.07
-0.44
0.48
-0.07
52.5
0.1738
0.03
-0.07
-0.52
0.39
-0.06
53
0.1681
0.03
-0.07
-0.61
0.31
-0.06
53.5
0.1549
0.03
-0.06
-0.69
0.24
-0.05
54
0.1364
0.02
-0.05
-0.76
0.18
-0.04
54.5
0.1153
0.02
-0.04
-0.82
0.14
-0.04
55
0.0944
0.02
-0.04
-0.87
0.10
-0.03
55.5
0.0754
0.01
-0.03
-0.90
0.08
-0.02
56
0.0596
0.01
-0.03
-0.93
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 42 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.