■ 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 — 85 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)AU 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 ≈ 56.9% · 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
0.89
-0.03
80
0.0050
0.11
-0.03
-0.10
0.86
-0.04
85
0.0062
0.14
-0.04
-0.14
0.81
-0.04
90
0.0074
0.17
-0.04
-0.18
0.77
-0.05
95
0.0086
0.19
-0.05
-0.23
0.72
-0.05
100
0.0096
0.21
-0.05
-0.28
0.66
-0.06
105
0.0104
0.23
-0.06
-0.34
0.60
-0.06
110
0.0109
0.24
-0.06
-0.39
0.55
-0.06
115
0.0112
0.25
-0.06
-0.45
0.50
-0.06
120
0.0112
0.25
-0.06
-0.50
0.45
-0.06
125
0.0110
0.25
-0.06
-0.56
0.40
-0.06
130
0.0107
0.24
-0.06
-0.60
0.36
-0.06
135
0.0102
0.23
-0.06
-0.65
0.32
-0.06
140
0.0097
0.22
-0.06
-0.69
0.28
-0.06
145
0.0091
0.21
-0.06
-0.72
0.25
-0.05
150
0.0085
0.20
-0.06
-0.75
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 42 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.