■ 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 — 50 — is the max pain price.
Open interest by strike · Fri, Oct 16
■ calls (up)■ puts (down)EDU open contracts per strike for Fri, Oct 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, Oct 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 16
— call IV— put IVATM ≈ 36.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 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, Oct 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.01
25
0.0027
0.01
-0.01
-0.03
0.96
-0.01
30
0.0046
0.02
-0.02
-0.04
0.93
-0.02
35
0.0078
0.03
-0.02
-0.07
0.89
-0.02
40
0.0133
0.04
-0.02
-0.11
0.82
-0.02
45
0.0231
0.06
-0.02
-0.18
0.69
-0.03
50
0.0398
0.08
-0.03
-0.32
0.45
-0.03
55
0.0526
0.09
-0.03
-0.56
0.25
-0.02
60
0.0394
0.07
-0.02
-0.77
0.16
-0.02
65
0.0256
0.05
-0.02
-0.86
0.11
-0.02
70
0.0176
0.04
-0.02
-0.91
0.08
-0.01
75
0.0129
0.03
-0.01
-0.94
0.07
-0.01
80
0.0099
0.03
-0.01
-0.96
0.06
-0.01
85
0.0079
0.02
-0.01
-0.97
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.