Event risk before this expiration:FOMC decision Wed, Oct 28 · 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 — 14 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)USAR 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 ≈ 87.4% · 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
0.99
-0.00
5
0.0126
0.00
-0.00
-0.01
0.96
-0.00
6
0.0345
0.00
-0.00
-0.04
0.89
-0.01
7
0.0755
0.01
-0.01
-0.11
0.78
-0.01
8
0.1290
0.01
-0.01
-0.23
0.61
-0.01
9
0.1690
0.01
-0.02
-0.39
0.53
-0.02
9.5
0.1762
0.01
-0.02
-0.48
0.44
-0.02
10
0.1742
0.01
-0.02
-0.56
0.37
-0.01
10.5
0.1648
0.01
-0.01
-0.64
0.30
-0.01
11
0.1508
0.01
-0.01
-0.70
0.25
-0.01
11.5
0.1345
0.01
-0.01
-0.76
0.20
-0.01
12
0.1178
0.01
-0.01
-0.81
0.16
-0.01
12.5
0.1020
0.01
-0.01
-0.84
0.13
-0.01
13
0.0877
0.01
-0.01
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 33 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.