■ 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 — 23.5 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)BAX open contracts per strike for Fri, Oct 23.
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 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 23
— call IV— put IVATM ≈ 39.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 23
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 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.01
21
0.0376
0.00
-0.01
-0.04
0.94
-0.01
21.5
0.0502
0.00
-0.01
-0.06
0.93
-0.01
22
0.0681
0.01
-0.01
-0.07
0.90
-0.02
22.5
0.0938
0.01
-0.02
-0.10
0.86
-0.02
23
0.1304
0.01
-0.02
-0.14
0.80
-0.02
23.5
0.1794
0.01
-0.02
-0.20
0.70
-0.03
24
0.2353
0.01
-0.03
-0.30
0.57
-0.03
24.5
0.2763
0.01
-0.03
-0.43
0.44
-0.03
25
0.2765
0.02
-0.03
-0.57
0.32
-0.03
25.5
0.2397
0.01
-0.03
-0.69
0.23
-0.03
26
0.1910
0.01
-0.03
-0.78
0.12
-0.02
27
0.1112
0.01
-0.02
-0.89
0.07
-0.01
28
0.0647
0.01
-0.01
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 15 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.