■ 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 — 12 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)ALOY open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 116.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.00
6
0.0154
0.01
-0.01
-0.09
0.93
-0.01
7
0.0203
0.02
-0.01
-0.12
0.89
-0.01
8
0.0253
0.02
-0.01
-0.15
0.85
-0.01
9
0.0300
0.02
-0.01
-0.19
0.81
-0.01
10
0.0342
0.03
-0.01
-0.23
0.77
-0.01
11
0.0376
0.03
-0.01
-0.28
0.73
-0.01
12
0.0402
0.03
-0.01
-0.32
0.69
-0.01
13
0.0420
0.03
-0.01
-0.36
0.65
-0.01
14
0.0431
0.03
-0.01
-0.41
0.61
-0.01
15
0.0437
0.03
-0.01
-0.44
0.58
-0.01
16
0.0439
0.03
-0.01
-0.48
0.55
-0.01
17
0.0437
0.03
-0.01
-0.51
0.52
-0.01
18
0.0434
0.03
-0.01
-0.54
0.49
-0.01
19
0.0428
0.03
-0.01
-0.57
0.47
-0.01
20
0.0422
0.03
-0.01
-0.59
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 31 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.