■ 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 — 870 — is the max pain price.
Open interest by strike · Fri, Oct 16
■ calls (up)■ puts (down)ARGX open contracts per strike for Fri, Oct 16.
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 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 16
— call IV— put IVATM ≈ 34.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 16
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 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.28
870
0.0016
0.96
-0.29
-0.15
0.81
-0.32
890
0.0018
1.10
-0.33
-0.19
0.79
-0.33
900
0.0019
1.17
-0.35
-0.21
0.77
-0.35
910
0.0021
1.23
-0.37
-0.23
0.75
-0.37
920
0.0022
1.29
-0.39
-0.25
0.73
-0.39
930
0.0023
1.35
-0.40
-0.28
0.68
-0.42
950
0.0025
1.46
-0.43
-0.33
0.43
-0.45
1040
0.0028
1.59
-0.46
-0.58
0.33
-0.41
1080
0.0026
1.47
-0.42
-0.69
0.24
-0.36
1120
0.0022
1.27
-0.37
-0.78
0.20
-0.33
1140
0.0020
1.16
-0.33
-0.82
0.10
-0.21
1220
0.0012
0.72
-0.21
-0.93
0.08
-0.18
1240
0.0011
0.63
-0.20
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 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.