Event risk before this expiration:Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 — 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 — 30 — is the max pain price.
Open interest by strike · Fri, Dec 4
■ calls (up)■ puts (down)SVIX open contracts per strike for Fri, Dec 4.
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, Dec 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 4
— call IV— put IVATM ≈ 77.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 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 · Fri, Dec 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.03
21
0.0370
0.02
-0.03
-0.21
0.75
-0.03
22
0.0428
0.03
-0.03
-0.25
0.70
-0.04
23
0.0490
0.03
-0.04
-0.29
0.68
-0.04
23.5
0.0520
0.03
-0.04
-0.32
0.65
-0.04
24
0.0550
0.03
-0.04
-0.35
0.62
-0.04
24.5
0.0577
0.03
-0.04
-0.38
0.59
-0.04
25
0.0603
0.03
-0.04
-0.41
0.53
-0.04
26
0.0642
0.03
-0.04
-0.47
0.49
-0.04
26.5
0.0654
0.03
-0.03
-0.50
0.46
-0.03
27
0.0660
0.03
-0.03
-0.54
0.43
-0.03
27.5
0.0661
0.03
-0.03
-0.57
0.39
-0.03
28
0.0655
0.03
-0.03
-0.60
0.36
-0.03
28.5
0.0643
0.03
-0.03
-0.63
0.33
-0.03
29
0.0627
0.03
-0.03
-0.66
0.30
-0.03
29.5
0.0606
0.03
-0.03
-0.69
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 23 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.