■ 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 — 22 — is the max pain price.
Open interest by strike · Fri, Jul 16
■ calls (up)■ puts (down)DHT open contracts per strike for Fri, Jul 16.
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, Jul 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jul 16
— call IV— put IVATM ≈ 47.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jul 16
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, Jul 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
1.00
—
3
0.0025
0.01
-0.00
-0.02
1.00
—
5
0.0060
0.01
-0.00
-0.03
1.00
—
8
0.0153
0.02
-0.00
-0.08
1.00
—
10
0.0251
0.03
-0.00
-0.13
1.00
—
13
0.0025
0.05
-0.00
-0.26
0.85
-0.01
15
0.1240
0.03
-0.00
-0.36
0.57
-0.00
17
0.0825
0.06
-0.00
-0.48
0.39
-0.00
20
0.0606
0.06
-0.00
-0.62
0.31
-0.00
22
0.0532
0.05
-0.00
-0.69
0.23
-0.00
25
0.0427
0.04
-0.00
-0.76
0.19
-0.00
27
0.0369
0.04
-0.00
-0.80
0.15
-0.00
30
0.0300
0.03
-0.00
-0.83
0.13
-0.00
32
0.0264
0.03
0.00
-0.85
0.10
-0.00
35
0.0221
0.03
—
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.