■ 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 — 47.5 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)GBTC open contracts per strike for Fri, Aug 21.
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, Aug 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 26.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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, Aug 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.02
45
0.0500
0.01
-0.02
-0.07
0.91
-0.03
45.5
0.0634
0.01
-0.03
-0.09
0.89
-0.03
46
0.0808
0.01
-0.03
-0.12
0.85
-0.04
46.5
0.1030
0.02
-0.04
-0.15
0.81
-0.04
47
0.1305
0.02
-0.04
-0.20
0.74
-0.05
47.5
0.1626
0.02
-0.05
-0.26
0.66
-0.05
48
0.1951
0.03
-0.05
-0.34
0.56
-0.05
48.5
0.2194
0.03
-0.05
-0.45
0.45
-0.05
49
0.2245
0.03
-0.05
-0.56
0.34
-0.05
49.5
0.2073
0.03
-0.05
-0.67
0.26
-0.04
50
0.1761
0.02
-0.04
-0.76
0.19
-0.04
50.5
0.1421
0.02
-0.04
-0.83
0.14
-0.03
51
0.1120
0.01
-0.03
-0.88
0.11
-0.03
51.5
0.0876
0.01
-0.03
-0.91
0.08
-0.02
52
0.0687
0.01
-0.02
-0.93
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 37 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.