■ 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 — 36 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)AAAU open contracts per strike for Fri, Mar 19.
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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 21.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 19
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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.00
31
0.0099
0.04
-0.00
-0.06
0.86
-0.00
36
0.0214
0.07
-0.00
-0.12
0.79
-0.01
39
0.0322
0.10
-0.01
-0.20
0.75
-0.01
40
0.0362
0.10
-0.01
-0.24
0.71
-0.01
41
0.0401
0.11
-0.01
-0.28
0.67
-0.01
42
0.0436
0.12
-0.01
-0.32
0.63
-0.01
43
0.0465
0.13
-0.01
-0.37
0.58
-0.01
44
0.0485
0.13
-0.01
-0.42
0.53
-0.01
45
0.0494
0.13
-0.01
-0.47
0.48
-0.01
46
0.0494
0.13
-0.01
-0.52
0.39
-0.01
48
0.0468
0.13
-0.01
-0.61
0.35
-0.01
49
0.0446
0.13
-0.01
-0.66
0.32
-0.01
50
0.0421
0.12
-0.01
-0.70
0.19
-0.01
55
0.0294
0.09
-0.01
-0.84
0.13
-0.01
60
0.0201
0.07
-0.00
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.