■ 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 — 3500 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)AZO 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 ≈ 36.1% · 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
0.86
-0.49
2420
0.0004
3.67
-0.61
-0.14
0.84
-0.54
2460
0.0004
3.94
-0.65
-0.16
0.84
-0.56
2480
0.0004
4.08
-0.67
-0.17
0.83
-0.58
2500
0.0004
4.21
-0.69
-0.18
0.78
-0.69
2600
0.0005
4.88
-0.79
-0.23
0.72
-0.79
2700
0.0006
5.50
-0.87
-0.28
0.66
-0.87
2800
0.0006
6.00
-0.94
-0.35
0.59
-0.93
2900
0.0007
6.35
-0.98
-0.42
0.52
-0.96
3000
0.0007
6.51
-1.00
-0.49
0.49
-0.96
3050
0.0007
6.52
-1.00
-0.53
0.46
-0.96
3100
0.0007
6.48
-0.99
-0.56
0.42
-0.95
3150
0.0007
6.40
-0.97
-0.60
0.39
-0.93
3200
0.0007
6.28
-0.95
-0.63
0.36
-0.91
3250
0.0007
6.13
-0.93
-0.66
0.33
-0.89
3300
0.0006
5.95
-0.90
-0.69
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 57 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.