■ 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 — 44 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)EXC 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 ≈ 19.8% · 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
0.86
-0.01
39
0.0304
0.07
-0.01
-0.14
0.84
-0.01
40
0.0357
0.07
-0.01
-0.17
0.80
-0.01
41
0.0417
0.08
-0.01
-0.21
0.76
-0.01
42
0.0481
0.09
-0.01
-0.25
0.71
-0.01
43
0.0546
0.10
-0.01
-0.30
0.65
-0.01
44
0.0606
0.11
-0.01
-0.36
0.59
-0.01
45
0.0654
0.11
-0.01
-0.43
0.53
-0.01
46
0.0681
0.12
-0.01
-0.50
0.46
-0.01
47
0.0684
0.12
-0.01
-0.57
0.40
-0.01
48
0.0663
0.11
-0.01
-0.64
0.34
-0.01
49
0.0624
0.11
-0.01
-0.70
0.29
-0.01
50
0.0572
0.10
-0.01
-0.75
0.13
-0.00
55
0.0316
0.06
-0.00
-0.90
0.07
-0.00
60
0.0170
0.04
-0.00
-0.97
0.04
-0.00
65
0.0099
0.03
0.00
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 24 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.