■ 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 — 50 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)GBTC 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 ≈ 33.9% · 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
0.99
-0.01
30
0.0031
0.01
-0.01
-0.01
0.97
-0.01
35
0.0078
0.01
-0.01
-0.03
0.92
-0.02
40
0.0204
0.02
-0.02
-0.08
0.78
-0.02
45
0.0520
0.04
-0.03
-0.23
0.66
-0.03
47
0.0694
0.06
-0.03
-0.34
0.59
-0.03
48
0.0764
0.06
-0.03
-0.41
0.51
-0.03
49
0.0802
0.06
-0.03
-0.49
0.43
-0.03
50
0.0799
0.06
-0.03
-0.58
0.36
-0.03
51
0.0756
0.06
-0.03
-0.65
0.29
-0.02
52
0.0685
0.05
-0.03
-0.72
0.24
-0.02
53
0.0602
0.05
-0.02
-0.78
0.20
-0.02
54
0.0520
0.04
-0.02
-0.82
0.16
-0.02
55
0.0446
0.04
-0.02
-0.85
0.07
-0.01
60
0.0206
0.02
-0.01
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 43 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.