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 — 770 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)SPY open contracts per strike for Fri, Nov 20.
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. Biggest moves: 800 +63K · 732 +20K · 728 −7K · 750 −3K
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 ≈ 13.8% · 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
0.84
-0.18
740
0.0068
0.48
-0.19
-0.16
0.81
-0.20
745
0.0078
0.53
-0.20
-0.19
0.78
-0.21
750
0.0091
0.59
-0.22
-0.23
0.74
-0.22
755
0.0104
0.64
-0.23
-0.27
0.69
-0.23
760
0.0118
0.69
-0.24
-0.32
0.63
-0.23
765
0.0131
0.73
-0.24
-0.38
0.59
-0.23
768
0.0139
0.75
-0.24
-0.41
0.57
-0.23
770
0.0144
0.76
-0.24
-0.44
0.49
-0.23
775
0.0152
0.77
-0.24
-0.52
0.41
-0.21
780
0.0155
0.76
-0.22
-0.60
0.34
-0.19
785
0.0150
0.71
-0.20
-0.69
0.26
-0.17
790
0.0137
0.64
-0.18
-0.77
0.19
-0.14
795
0.0118
0.54
-0.15
-0.85
0.14
-0.11
800
0.0096
0.44
-0.15
-0.92
0.09
-0.08
805
0.0074
0.34
-0.10
-0.98
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.