■ 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 — 160 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)BMO open contracts per strike for Fri, Mar 19.
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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 21.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 19
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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.01
145
0.0041
0.21
-0.01
-0.08
0.87
-0.01
155
0.0063
0.30
-0.02
-0.14
0.83
-0.02
160
0.0075
0.35
-0.02
-0.17
0.79
-0.02
165
0.0088
0.40
-0.02
-0.22
0.74
-0.02
170
0.0101
0.45
-0.02
-0.27
0.69
-0.03
175
0.0112
0.50
-0.03
-0.32
0.63
-0.03
180
0.0122
0.53
-0.03
-0.38
0.56
-0.03
185
0.0128
0.55
-0.03
-0.45
0.50
-0.03
190
0.0131
0.56
-0.03
-0.51
0.44
-0.03
195
0.0130
0.55
-0.03
-0.58
0.37
-0.03
200
0.0127
0.54
-0.03
-0.64
0.26
-0.02
210
0.0111
0.47
-0.02
-0.76
0.18
-0.02
220
0.0088
0.37
-0.02
-0.85
0.04
-0.01
250
0.0029
0.13
-0.01
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 17 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.