■ 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 — 78 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)AIG open contracts per strike for Fri, Oct 23.
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, Oct 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 23
— call IV— put IVATM ≈ 26.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 23
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, Oct 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
1.00
-0.01
76
0.0035
0.00
-0.00
-0.00
0.99
-0.01
77
0.0065
0.00
-0.01
-0.01
0.99
-0.01
78
0.0125
0.00
-0.01
-0.01
0.98
-0.02
79
0.0249
0.00
-0.01
-0.02
0.96
-0.03
80
0.0515
0.00
-0.03
-0.04
0.91
-0.07
81
0.1098
0.01
-0.07
-0.09
0.78
-0.17
82
0.2231
0.01
-0.17
-0.22
0.51
-0.41
83
0.3232
0.02
-0.41
-0.49
0.23
-0.17
84
0.2324
0.01
-0.17
-0.77
0.09
-0.06
85
0.1114
0.01
-0.06
-0.91
0.04
-0.03
86
0.0508
0.00
-0.02
-0.96
0.02
-0.01
87
0.0243
0.00
-0.01
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 strikes around the money — all 28 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.