Event risk before this expiration:Jobs report Fri, Nov 6 — 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 — 440 — is the max pain price.
Open interest by strike · Fri, Nov 6
■ calls (up)■ puts (down)TSM open contracts per strike for Fri, Nov 6.
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 6
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 6
— call IV— put IVATM ≈ 36.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 6
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 6
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-0.35
415
0.0090
0.17
-0.35
-0.16
0.82
-0.38
417.5
0.0100
0.18
-0.38
-0.18
0.80
-0.41
420
0.0109
0.20
-0.41
-0.21
0.77
-0.44
422.5
0.0118
0.21
-0.44
-0.23
0.74
-0.46
425
0.0127
0.23
-0.47
-0.26
0.70
-0.49
427.5
0.0136
0.24
-0.49
-0.30
0.67
-0.51
430
0.0144
0.25
-0.52
-0.33
0.63
-0.53
432.5
0.0150
0.26
-0.53
-0.37
0.60
-0.54
435
0.0156
0.27
-0.55
-0.41
0.56
-0.55
437.5
0.0160
0.27
-0.56
-0.45
0.52
-0.55
440
0.0162
0.28
-0.56
-0.49
0.48
-0.55
442.5
0.0163
0.28
-0.55
-0.53
0.43
-0.54
445
0.0162
0.27
-0.55
-0.57
0.40
-0.53
447.5
0.0159
0.27
-0.53
-0.61
0.36
-0.51
450
0.0154
0.26
-0.51
-0.65
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 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.