■ 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 — 15 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)ALMU 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 ≈ 128.1% · 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
0.89
-0.01
10
0.0155
0.02
-0.01
-0.11
0.86
-0.01
11
0.0181
0.02
-0.01
-0.13
0.81
-0.02
12.5
0.0218
0.03
-0.02
-0.18
0.76
-0.02
14
0.0250
0.03
-0.02
-0.23
0.73
-0.02
15
0.0267
0.03
-0.02
-0.26
0.70
-0.02
16
0.0282
0.03
-0.02
-0.29
0.65
-0.02
17.5
0.0298
0.04
-0.02
-0.34
0.60
-0.02
19
0.0309
0.04
-0.02
-0.38
0.57
-0.02
20
0.0314
0.04
-0.02
-0.41
0.51
-0.03
22.5
0.0318
0.04
-0.03
-0.48
0.45
-0.03
25
0.0313
0.04
-0.03
-0.54
0.35
-0.02
30
0.0290
0.04
-0.02
-0.64
0.28
-0.02
35
0.0259
0.03
-0.02
-0.71
0.22
-0.02
40
0.0227
0.03
-0.02
-0.77
0.17
-0.02
45
0.0197
0.02
-0.02
-0.82
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.