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 — 530 — is the max pain price.
Open interest by strike · Mon, Nov 2
■ calls (up)■ puts (down)SMH open contracts per strike for Mon, Nov 2.
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 · Mon, Nov 2
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Mon, Nov 2
— call IV— put IVATM ≈ 38.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Mon, Nov 2
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 · Mon, Nov 2
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.73
-0.74
527.5
0.0107
0.25
-0.75
-0.27
0.70
-0.77
530
0.0113
0.26
-0.77
-0.30
0.67
-0.79
532.5
0.0119
0.28
-0.80
-0.33
0.64
-0.81
535
0.0124
0.28
-0.81
-0.36
0.61
-0.83
537.5
0.0129
0.29
-0.83
-0.39
0.58
-0.83
540
0.0133
0.30
-0.84
-0.42
0.55
-0.84
542.5
0.0136
0.30
-0.84
-0.45
0.51
-0.84
545
0.0138
0.30
-0.84
-0.49
0.48
-0.83
547.5
0.0140
0.30
-0.83
-0.52
0.44
-0.81
550
0.0140
0.30
-0.81
-0.56
0.37
-0.76
555
0.0136
0.29
-0.77
-0.63
0.30
-0.69
560
0.0128
0.27
-0.70
-0.70
0.24
-0.60
565
0.0116
0.24
-0.61
-0.76
0.19
-0.51
570
0.0101
0.21
-0.52
-0.81
0.14
-0.42
575
0.0085
0.17
-0.43
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 37 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.