■ 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 — 25 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)BCE open contracts per strike for Fri, Jan 15.
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, Jan 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 28.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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, Jan 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.00
16
0.0199
0.01
-0.00
-0.07
0.94
-0.00
17
0.0275
0.02
-0.00
-0.09
0.91
-0.00
18
0.0370
0.02
-0.00
-0.12
0.88
-0.00
19
0.0488
0.03
-0.00
-0.15
0.83
-0.00
20
0.0636
0.04
-0.00
-0.20
0.77
-0.00
21
0.0822
0.04
-0.00
-0.27
0.68
-0.00
22
0.1036
0.05
-0.00
-0.35
0.57
-0.00
23
0.1223
0.06
-0.00
-0.46
0.45
-0.00
24
0.1278
0.06
-0.00
-0.59
0.33
-0.00
25
0.1165
0.05
-0.00
-0.70
0.24
-0.00
26
0.0967
0.05
-0.00
-0.78
0.18
-0.00
27
0.0773
0.04
-0.00
-0.83
0.14
-0.00
28
0.0614
0.03
-0.00
-0.87
0.11
-0.00
29
0.0495
0.03
-0.00
-0.90
0.09
-0.00
30
0.0402
0.03
-0.00
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 23 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.