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 — 25 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)SVIX open contracts per strike for Fri, Nov 20.
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 · 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 ≈ 85.2% · 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
0.85
-0.04
20
0.0348
0.01
-0.04
-0.15
0.82
-0.04
21
0.0419
0.02
-0.04
-0.19
0.77
-0.05
22
0.0498
0.02
-0.04
-0.23
0.72
-0.05
23
0.0581
0.02
-0.05
-0.28
0.66
-0.05
24
0.0663
0.02
-0.05
-0.34
0.62
-0.05
24.5
0.0701
0.02
-0.05
-0.38
0.58
-0.05
25
0.0734
0.02
-0.05
-0.41
0.51
-0.05
26
0.0782
0.02
-0.05
-0.49
0.47
-0.05
26.5
0.0793
0.02
-0.05
-0.53
0.43
-0.05
27
0.0795
0.02
-0.05
-0.57
0.39
-0.04
27.5
0.0787
0.02
-0.04
-0.61
0.35
-0.04
28
0.0769
0.02
-0.04
-0.65
0.31
-0.04
28.5
0.0742
0.02
-0.04
-0.68
0.28
-0.04
29
0.0707
0.02
-0.04
-0.72
0.24
-0.04
29.5
0.0667
0.02
-0.04
-0.75
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.