■ 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 — 10 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)AMLX open contracts per strike for Fri, Dec 18.
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, Dec 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 142.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.02
12
0.0095
0.03
-0.02
-0.13
0.86
-0.02
13
0.0105
0.03
-0.02
-0.15
0.83
-0.02
15
0.0126
0.04
-0.02
-0.19
0.81
-0.02
16
0.0136
0.04
-0.02
-0.21
0.79
-0.03
17
0.0147
0.04
-0.03
-0.23
0.77
-0.03
18
0.0157
0.04
-0.03
-0.25
0.73
-0.03
20
0.0176
0.04
-0.03
-0.29
0.69
-0.03
22
0.0194
0.05
-0.03
-0.33
0.62
-0.03
25
0.0216
0.05
-0.03
-0.40
0.58
-0.03
27
0.0229
0.05
-0.03
-0.45
0.51
-0.03
30
0.0242
0.05
-0.03
-0.51
0.47
-0.03
32
0.0248
0.05
-0.03
-0.56
0.40
-0.02
35
0.0250
0.05
-0.03
-0.62
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 18 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.