■ 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 — 37.5 — is the max pain price.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)CBRL open contracts per strike for Fri, Jan 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 21
— call IV— put IVATM ≈ 58.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.81
-0.01
40
0.0063
0.18
-0.01
-0.18
0.79
-0.01
42.5
0.0068
0.19
-0.01
-0.20
0.77
-0.01
45
0.0073
0.20
-0.01
-0.22
0.74
-0.01
47.5
0.0078
0.21
-0.01
-0.24
0.72
-0.01
50
0.0082
0.22
-0.01
-0.27
0.69
-0.01
52.5
0.0086
0.23
-0.01
-0.29
0.67
-0.01
55
0.0090
0.24
-0.01
-0.32
0.65
-0.01
57.5
0.0093
0.25
-0.01
-0.34
0.62
-0.01
60
0.0096
0.25
-0.01
-0.37
0.57
-0.01
65
0.0100
0.26
-0.01
-0.42
0.53
-0.01
70
0.0103
0.27
-0.01
-0.47
0.48
-0.01
75
0.0105
0.27
-0.01
-0.51
0.40
-0.01
85
0.0104
0.26
-0.01
-0.60
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 24 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.