■ 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 — 54 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)FBTC open contracts per strike for Fri, Sep 4.
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, Sep 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 31.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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, Sep 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-0.03
50
0.0460
0.03
-0.03
-0.16
0.80
-0.03
51
0.0566
0.04
-0.03
-0.20
0.77
-0.04
51.5
0.0626
0.04
-0.04
-0.23
0.74
-0.04
52
0.0689
0.04
-0.04
-0.26
0.67
-0.04
53
0.0818
0.05
-0.04
-0.33
0.63
-0.04
53.5
0.0878
0.05
-0.04
-0.37
0.59
-0.04
54
0.0928
0.05
-0.04
-0.41
0.54
-0.04
54.5
0.0964
0.05
-0.04
-0.46
0.49
-0.04
55
0.0982
0.05
-0.04
-0.51
0.44
-0.04
55.5
0.0979
0.05
-0.04
-0.56
0.40
-0.04
56
0.0955
0.05
-0.04
-0.61
0.35
-0.04
56.5
0.0914
0.05
-0.04
-0.65
0.31
-0.04
57
0.0861
0.05
-0.04
-0.69
0.28
-0.03
57.5
0.0800
0.04
-0.03
-0.73
0.24
-0.03
58
0.0737
0.04
-0.03
-0.76
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 29 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.