■ 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 — 1080 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)BLK 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 ≈ 91.5% · 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
1.00
—
1085
—
—
—
—
1.00
—
1090
—
—
—
—
1.00
0.00
1095
0.0001
0.00
0.00
0.00
1.00
-0.01
1100
0.0013
0.00
-0.01
-0.00
0.98
-0.05
1105
0.0080
0.00
-0.05
-0.02
0.90
-0.32
1110
0.0286
0.02
-0.32
-0.10
0.68
-1.32
1115
0.0565
0.03
-1.32
-0.32
0.37
-1.62
1120
0.0600
0.03
-1.62
-0.63
0.13
-0.42
1125
0.0340
0.02
-0.42
-0.87
0.03
-0.07
1130
0.0104
0.01
-0.07
-0.97
0.00
-0.01
1135
0.0018
0.00
-0.01
-1.00
0.00
0.00
1140
0.0002
0.00
0.00
-1.00
—
—
1145
—
—
—
-1.00
—
—
1150
—
—
—
-1.00
—
—
1155
—
—
—
-1.00
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.