Event risk before this expiration:FOMC decision Wed, Oct 28 — 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 — 68 — is the max pain price.
Open interest by strike · Wed, Nov 4
■ calls (up)■ puts (down)TQQQ open contracts per strike for Wed, Nov 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 · Wed, Nov 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Nov 4
— call IV— put IVATM ≈ 82.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Nov 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 · Wed, Nov 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.13
59
0.0267
0.04
-0.13
-0.21
0.76
-0.14
60
0.0291
0.04
-0.14
-0.24
0.73
-0.14
61
0.0316
0.04
-0.15
-0.27
0.70
-0.15
62
0.0340
0.04
-0.15
-0.30
0.66
-0.15
63
0.0363
0.04
-0.15
-0.34
0.62
-0.16
64
0.0384
0.05
-0.16
-0.38
0.58
-0.16
65
0.0402
0.05
-0.16
-0.42
0.54
-0.16
66
0.0416
0.05
-0.16
-0.46
0.50
-0.16
67
0.0426
0.05
-0.16
-0.50
0.46
-0.15
68
0.0432
0.05
-0.15
-0.54
0.41
-0.15
69
0.0432
0.05
-0.15
-0.59
0.37
-0.14
70
0.0426
0.04
-0.14
-0.63
0.33
-0.13
71
0.0414
0.04
-0.13
-0.68
0.28
-0.12
72
0.0396
0.04
-0.12
-0.72
0.25
-0.11
73
0.0374
0.04
-0.11
-0.76
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 32 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.