■ 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 — 110 — is the max pain price.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)CM 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 ≈ 24.2% · 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
0.84
-0.01
92.5
0.0062
0.34
-0.01
-0.17
0.82
-0.01
95
0.0067
0.36
-0.01
-0.19
0.81
-0.01
97.5
0.0073
0.39
-0.01
-0.20
0.79
-0.01
100
0.0078
0.41
-0.01
-0.23
0.74
-0.01
105
0.0090
0.45
-0.01
-0.27
0.70
-0.01
110
0.0100
0.49
-0.01
-0.32
0.64
-0.01
115
0.0110
0.52
-0.01
-0.38
0.59
-0.01
120
0.0118
0.54
-0.01
-0.44
0.53
-0.01
125
0.0124
0.55
-0.01
-0.50
0.47
-0.01
130
0.0127
0.55
-0.01
-0.57
0.41
-0.01
135
0.0127
0.54
-0.01
-0.64
0.36
-0.01
140
0.0124
0.52
-0.01
-0.71
0.30
-0.01
145
0.0118
0.49
-0.01
-0.78
0.26
-0.01
150
0.0110
0.45
-0.01
-0.85
0.21
-0.01
155
0.0100
0.41
-0.01
-0.91
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.