■ 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 — 220 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)BIIB 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 ≈ 37.5% · 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
0.89
-0.18
217.5
0.0120
0.07
-0.19
-0.11
0.86
-0.21
220
0.0145
0.08
-0.21
-0.14
0.82
-0.23
222.5
0.0173
0.09
-0.24
-0.18
0.78
-0.26
225
0.0204
0.10
-0.27
-0.22
0.73
-0.29
227.5
0.0235
0.12
-0.29
-0.27
0.67
-0.31
230
0.0264
0.13
-0.32
-0.33
0.60
-0.33
232.5
0.0285
0.14
-0.33
-0.40
0.53
-0.34
235
0.0296
0.14
-0.34
-0.47
0.46
-0.34
237.5
0.0295
0.14
-0.34
-0.55
0.39
-0.33
240
0.0282
0.13
-0.33
-0.62
0.32
-0.31
242.5
0.0260
0.13
-0.31
-0.68
0.27
-0.29
245
0.0234
0.12
-0.29
-0.74
0.22
-0.26
247.5
0.0206
0.10
-0.26
-0.79
0.18
-0.24
250
0.0178
0.09
-0.23
-0.82
0.15
-0.21
252.5
0.0153
0.08
-0.21
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 26 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.