■ 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 — 48 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)FRO open contracts per strike for Fri, Feb 19.
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, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 47.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
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, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.74
-0.02
33
0.0353
0.08
-0.01
-0.30
0.70
-0.02
34
0.0356
0.09
-0.01
-0.33
0.66
-0.02
35
0.0353
0.09
-0.01
-0.35
0.62
-0.02
36
0.0350
0.10
-0.01
-0.38
0.58
-0.02
37
0.0344
0.10
-0.01
-0.41
0.55
-0.02
38
0.0337
0.10
-0.01
-0.43
0.51
-0.02
39
0.0328
0.10
-0.01
-0.46
0.48
-0.02
40
0.0320
0.10
-0.01
-0.48
0.45
-0.01
41
0.0311
0.10
-0.01
-0.51
0.42
-0.01
42
0.0302
0.10
-0.01
-0.53
0.40
-0.01
43
0.0293
0.10
-0.01
-0.56
0.37
-0.01
44
0.0283
0.10
-0.01
-0.58
0.35
-0.01
45
0.0274
0.10
-0.01
-0.60
0.32
-0.01
46
0.0264
0.10
-0.01
-0.62
0.30
-0.01
47
0.0254
0.10
-0.01
-0.64
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.