Event risk before this expiration: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 — 7625 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)SPX open contracts per strike for Fri, Nov 20.
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; 2 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 8000 +3K · 8200 +3K · 6800 −2K · 5500 −2K
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 ≈ 14.0% · 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
0.71
-2.63
7475
0.0010
6.38
-2.63
-0.29
0.69
-2.66
7500
0.0011
6.60
-2.66
-0.31
0.64
-2.70
7550
0.0012
6.99
-2.70
-0.36
0.58
-2.68
7600
0.0013
7.29
-2.68
-0.42
0.52
-2.60
7650
0.0014
7.43
-2.60
-0.48
0.48
-2.53
7675
0.0014
7.43
-2.53
-0.52
0.44
-2.44
7700
0.0015
7.36
-2.44
-0.56
0.40
-2.33
7725
0.0015
7.22
-2.33
-0.60
0.38
-2.25
7740
0.0015
7.11
-2.25
-0.62
0.36
-2.20
7750
0.0015
7.02
-2.20
-0.64
0.32
-2.06
7775
0.0014
6.74
-2.06
-0.68
0.28
-1.90
7800
0.0014
6.38
-1.90
-0.72
0.21
-1.55
7850
0.0012
5.51
-1.55
-0.79
0.15
-1.21
7900
0.0010
4.50
-1.21
-0.85
0.12
-1.04
7925
0.0009
3.98
-1.04
-0.88
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.