■ 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 — 7725 — is the max pain price.
Open interest by strike · Wed, Nov 4
■ calls (up)■ puts (down)SPX open contracts per strike for Wed, Nov 4.
Open-interest change · 2026-10-28 → 2026-10-29
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot: where the walls are building and where they’re unwinding. Only strikes observed on both days are compared; 18 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 7900 +2K · 7475 +2K · 7800 +1K · 7950 +949
Volume by strike · Wed, Nov 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Nov 4
— call IV— put IVATM ≈ 13.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Nov 4
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, Nov 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.65
-5.04
7590
0.0025
3.57
-5.04
-0.35
0.62
-5.10
7600
0.0026
3.65
-5.10
-0.38
0.56
-5.14
7625
0.0027
3.78
-5.14
-0.44
0.52
-5.09
7640
0.0028
3.82
-5.09
-0.48
0.49
-5.03
7650
0.0029
3.82
-5.03
-0.51
0.42
-4.73
7675
0.0029
3.75
-4.73
-0.58
0.34
-4.25
7700
0.0028
3.53
-4.25
-0.66
0.27
-3.63
7725
0.0026
3.18
-3.63
-0.73
0.22
-3.21
7740
0.0024
2.92
-3.21
-0.78
0.20
-2.92
7750
0.0023
2.73
-2.92
-0.80
0.14
-2.20
7775
0.0019
2.20
-2.20
-0.86
0.13
-2.06
7780
0.0018
2.09
-2.06
-0.87
0.09
-1.54
7800
0.0014
1.67
-1.54
-0.91
0.08
-1.42
7805
0.0014
1.57
-1.42
-0.92
0.06
-1.01
7825
0.0010
1.20
-1.01
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.