Underlying $399.81 · expiration 2026-11-02 · 172 contracts · as of 6 minutes ago
| Contract | Volume | Open interest | Vol/OI | Premium |
|---|---|---|---|---|
| CALL $400.00 | 25,981 | 1,359 | 19.1x | $12.1M |
| CALL $395.00 | 11,708 | 1,730 | 6.8x | $8.9M |
| PUT $400.00 | 17,554 | 1,823 | 9.6x | $8.4M |
| CALL $397.50 | 11,650 | 178 | 65.4x | $7.2M |
| PUT $397.50 | 15,406 | 594 | 25.9x | $5.7M |
| PUT $395.00 | 20,161 | 1,254 | 16.1x | $5.7M |
| CALL $402.50 | 13,389 | 1,313 | 10.2x | $4.7M |
| CALL $405.00 | 18,369 | 1,899 | 9.7x | $4.6M |
| PUT $402.50 | 6,640 | 749 | 8.9x | $4.1M |
| CALL $390.00 | 3,540 | 736 | 4.8x | $3.9M |
Max pain is the strike at which the total intrinsic value of all open contracts is lowest. Gamma exposure is computed per strike as gamma × open interest × 100 × spot² × 0.01, then summed across the chain. Dealers are assumed short calls and long puts, so call gamma is positive and put gamma negative, there is no universal convention, and the opposite assumption inverts every figure above. The gamma flip is approximate: it is the strike where cumulative exposure crosses zero, not a repriced level. IV skew compares average implied volatility of out-of-the-money puts against calls 2–12% from spot. Unusual activity lists contracts trading at least 500 lots and at least 2× their own open interest. Figures derive from a single expiration chain, are provided free for reference and citation, and are not investment advice.