■ 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 — 768 — is the max pain price.
Open interest by strike · Tue, Nov 3
■ calls (up)■ puts (down)SPY open contracts per strike for Tue, Nov 3.
Open-interest change · 2026-10-27 → 2026-10-28
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; 16 strikes were in only one day’s snapshot (each keeps its largest strikes) and are left out. Biggest moves: 715 +950 · 770 +909 · 768 +866 · 760 +821
Volume by strike · Tue, Nov 3
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Tue, Nov 3
— call IV— put IVATM ≈ 12.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Tue, Nov 3
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 · Tue, Nov 3
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.72
-0.38
765
0.0257
0.34
-0.38
-0.29
0.69
-0.39
766
0.0270
0.35
-0.39
-0.31
0.67
-0.40
767
0.0283
0.36
-0.40
-0.34
0.64
-0.40
768
0.0296
0.37
-0.41
-0.36
0.61
-0.41
769
0.0307
0.38
-0.41
-0.39
0.58
-0.41
770
0.0317
0.39
-0.42
-0.42
0.55
-0.41
771
0.0326
0.39
-0.42
-0.45
0.52
-0.41
772
0.0333
0.40
-0.41
-0.49
0.48
-0.40
773
0.0337
0.40
-0.41
-0.52
0.45
-0.39
774
0.0340
0.39
-0.40
-0.56
0.41
-0.38
775
0.0339
0.39
-0.39
-0.59
0.38
-0.37
776
0.0336
0.38
-0.37
-0.63
0.31
-0.33
778
0.0319
0.35
-0.34
-0.70
0.28
-0.31
779
0.0306
0.34
-0.32
-0.73
0.24
-0.28
780
0.0291
0.32
-0.30
-0.77
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.