■ 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 — 720 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)FN 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 ≈ 79.5% · 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
0.72
-0.36
490
0.0012
1.12
-0.36
-0.28
0.71
-0.36
500
0.0013
1.15
-0.37
-0.29
0.70
-0.37
510
0.0013
1.18
-0.38
-0.31
0.68
-0.38
520
0.0013
1.20
-0.39
-0.32
0.67
-0.39
530
0.0014
1.22
-0.39
-0.34
0.64
-0.40
550
0.0014
1.26
-0.41
-0.37
0.62
-0.40
560
0.0014
1.28
-0.41
-0.38
0.61
-0.41
570
0.0014
1.29
-0.42
-0.40
0.59
-0.41
580
0.0014
1.30
-0.42
-0.41
0.58
-0.42
590
0.0015
1.31
-0.42
-0.42
0.57
-0.42
600
0.0015
1.32
-0.43
-0.44
0.55
-0.42
610
0.0015
1.33
-0.43
-0.45
0.54
-0.42
620
0.0015
1.33
-0.43
-0.47
0.51
-0.42
640
0.0015
1.34
-0.44
-0.49
0.49
-0.42
660
0.0015
1.34
-0.44
-0.52
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 54 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.