■ 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 — 120 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)DAC open contracts per strike for Fri, Jan 15.
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 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 23.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
100
0.0033
0.10
-0.01
-0.06
0.91
-0.01
110
0.0054
0.15
-0.02
-0.10
0.88
-0.02
115
0.0070
0.18
-0.02
-0.12
0.85
-0.02
120
0.0089
0.21
-0.02
-0.16
0.80
-0.02
125
0.0112
0.25
-0.02
-0.20
0.74
-0.02
130
0.0138
0.29
-0.03
-0.26
0.67
-0.03
135
0.0164
0.33
-0.03
-0.34
0.58
-0.03
140
0.0185
0.35
-0.03
-0.42
0.49
-0.03
145
0.0195
0.36
-0.03
-0.52
0.39
-0.03
150
0.0191
0.35
-0.03
-0.62
0.31
-0.02
155
0.0175
0.32
-0.02
-0.70
0.24
-0.02
160
0.0152
0.28
-0.02
-0.78
0.18
-0.02
165
0.0127
0.24
-0.02
-0.84
0.14
-0.01
170
0.0104
0.20
-0.02
-0.89
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.