■ 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 — 300 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)EVR open contracts per strike for Fri, Dec 18.
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, Dec 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 39.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.02
200
0.0016
0.20
-0.04
-0.07
0.92
-0.03
210
0.0021
0.26
-0.05
-0.09
0.89
-0.04
220
0.0026
0.31
-0.06
-0.11
0.82
-0.07
240
0.0039
0.43
-0.07
-0.19
0.77
-0.08
250
0.0045
0.50
-0.08
-0.23
0.67
-0.09
270
0.0056
0.60
-0.10
-0.34
0.60
-0.10
280
0.0060
0.63
-0.10
-0.40
0.54
-0.10
290
0.0062
0.65
-0.10
-0.46
0.48
-0.10
300
0.0063
0.65
-0.10
-0.53
0.42
-0.10
310
0.0062
0.64
-0.10
-0.59
0.37
-0.10
320
0.0060
0.62
-0.10
-0.65
0.32
-0.09
330
0.0057
0.58
-0.09
-0.70
0.27
-0.08
340
0.0053
0.54
-0.08
-0.75
0.23
-0.08
350
0.0048
0.50
-0.07
-0.80
0.19
-0.07
360
0.0043
0.45
-0.07
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 35 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.