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 — 16 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)SMCL 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 ≈ 176.3% · 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
0.93
-0.02
6
0.0206
0.01
-0.02
-0.07
0.89
-0.02
7
0.0298
0.01
-0.02
-0.11
0.84
-0.03
8
0.0404
0.01
-0.03
-0.16
0.78
-0.03
9
0.0510
0.01
-0.03
-0.22
0.72
-0.03
10
0.0599
0.01
-0.03
-0.28
0.65
-0.04
11
0.0663
0.01
-0.04
-0.35
0.58
-0.04
12
0.0698
0.01
-0.04
-0.42
0.51
-0.04
13
0.0708
0.01
-0.04
-0.49
0.45
-0.04
14
0.0699
0.01
-0.04
-0.55
0.40
-0.04
15
0.0676
0.01
-0.04
-0.60
0.35
-0.04
16
0.0644
0.01
-0.04
-0.65
0.31
-0.04
17
0.0607
0.01
-0.04
-0.69
0.27
-0.03
18
0.0568
0.01
-0.03
-0.73
0.24
-0.03
19
0.0528
0.01
-0.03
-0.76
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 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.