■ 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 — 130 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)CAMT open contracts per strike for Fri, Feb 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, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 75.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 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, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.02
85
0.0012
0.16
-0.04
-0.07
0.89
-0.04
100
0.0017
0.23
-0.05
-0.10
0.86
-0.04
110
0.0021
0.27
-0.06
-0.13
0.85
-0.05
115
0.0023
0.29
-0.06
-0.15
0.79
-0.06
130
0.0029
0.35
-0.07
-0.20
0.71
-0.08
150
0.0035
0.42
-0.08
-0.28
0.65
-0.08
165
0.0038
0.46
-0.09
-0.34
0.63
-0.09
170
0.0039
0.47
-0.09
-0.36
0.59
-0.09
180
0.0041
0.48
-0.09
-0.41
0.55
-0.09
190
0.0042
0.49
-0.09
-0.45
0.52
-0.09
200
0.0042
0.50
-0.09
-0.48
0.48
-0.09
210
0.0042
0.50
-0.09
-0.52
0.30
-0.08
270
0.0037
0.44
-0.08
-0.71
0.28
-0.08
280
0.0036
0.42
-0.07
-0.73
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 18 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.