■ 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 — 27 — is the max pain price.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)CPER 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 ≈ 32.5% · 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
-0.00
33
0.0174
0.13
-0.00
-0.21
0.79
-0.00
34
0.0185
0.14
-0.01
-0.23
0.76
-0.00
35
0.0196
0.15
-0.01
-0.26
0.74
-0.00
36
0.0206
0.16
-0.01
-0.28
0.72
-0.00
37
0.0215
0.16
-0.01
-0.31
0.69
-0.00
38
0.0223
0.17
-0.01
-0.33
0.67
-0.01
39
0.0230
0.17
-0.01
-0.36
0.65
-0.01
40
0.0235
0.18
-0.01
-0.39
0.62
-0.01
41
0.0240
0.18
-0.01
-0.41
0.60
-0.01
42
0.0244
0.19
-0.01
-0.44
0.58
-0.01
43
0.0247
0.19
-0.01
-0.47
0.56
-0.01
44
0.0249
0.19
-0.01
-0.49
0.53
-0.01
45
0.0250
0.19
-0.01
-0.52
0.43
-0.01
50
0.0244
0.19
-0.01
-0.65
0.34
-0.01
55
0.0226
0.18
-0.01
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.