■ 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, Nov 20
■ calls (up)■ puts (down)ESTC open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 72.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
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, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.02
50
0.0038
0.07
-0.03
-0.08
0.89
-0.03
55
0.0049
0.08
-0.03
-0.11
0.85
-0.04
60
0.0062
0.10
-0.04
-0.14
0.81
-0.04
65
0.0075
0.12
-0.05
-0.18
0.76
-0.05
70
0.0089
0.14
-0.05
-0.23
0.71
-0.05
75
0.0101
0.15
-0.06
-0.29
0.65
-0.06
80
0.0110
0.17
-0.06
-0.35
0.59
-0.06
85
0.0117
0.17
-0.06
-0.41
0.53
-0.06
90
0.0120
0.18
-0.06
-0.47
0.47
-0.06
95
0.0120
0.18
-0.06
-0.52
0.42
-0.06
100
0.0118
0.17
-0.06
-0.57
0.38
-0.06
105
0.0114
0.17
-0.06
-0.62
0.33
-0.06
110
0.0108
0.16
-0.06
-0.67
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 19 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.