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 — 109 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)VTWO 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 ≈ 20.1% · 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
0.93
-0.02
100
0.0156
0.04
-0.02
-0.07
0.83
-0.03
105
0.0348
0.08
-0.03
-0.17
0.80
-0.04
106
0.0400
0.09
-0.04
-0.20
0.76
-0.04
107
0.0454
0.10
-0.04
-0.24
0.71
-0.04
108
0.0508
0.11
-0.04
-0.29
0.66
-0.04
109
0.0558
0.11
-0.04
-0.34
0.60
-0.04
110
0.0601
0.12
-0.04
-0.40
0.54
-0.04
111
0.0631
0.12
-0.04
-0.46
0.48
-0.04
112
0.0645
0.12
-0.04
-0.52
0.41
-0.04
113
0.0640
0.12
-0.04
-0.59
0.35
-0.04
114
0.0616
0.12
-0.04
-0.65
0.29
-0.04
115
0.0574
0.11
-0.04
-0.71
0.24
-0.03
116
0.0520
0.10
-0.03
-0.77
0.19
-0.03
117
0.0458
0.09
-0.03
-0.82
0.15
-0.03
118
0.0393
0.07
-0.03
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 19 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.