■ 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 — 58 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)FBTC open contracts per strike for Fri, Sep 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, Sep 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 34.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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, Sep 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.02
46
0.0216
0.03
-0.02
-0.09
0.86
-0.02
48
0.0308
0.04
-0.02
-0.14
0.83
-0.02
49
0.0365
0.04
-0.02
-0.17
0.80
-0.03
50
0.0429
0.05
-0.03
-0.20
0.76
-0.03
51
0.0499
0.05
-0.03
-0.24
0.71
-0.03
52
0.0570
0.06
-0.03
-0.29
0.65
-0.03
53
0.0636
0.06
-0.03
-0.35
0.58
-0.03
54
0.0687
0.07
-0.03
-0.42
0.51
-0.03
55
0.0714
0.07
-0.03
-0.49
0.44
-0.03
56
0.0713
0.07
-0.03
-0.56
0.37
-0.03
57
0.0684
0.06
-0.03
-0.63
0.31
-0.03
58
0.0633
0.06
-0.03
-0.69
0.26
-0.03
59
0.0571
0.06
-0.03
-0.75
0.22
-0.02
60
0.0505
0.05
-0.03
-0.79
0.18
-0.02
61
0.0441
0.04
-0.02
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 53 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.