■ 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 — 40 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)GBTC 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 ≈ 39.9% · 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
0.95
-0.01
30
0.0062
0.03
-0.01
-0.05
0.90
-0.01
35
0.0118
0.05
-0.01
-0.10
0.82
-0.01
40
0.0201
0.07
-0.01
-0.18
0.69
-0.02
45
0.0294
0.10
-0.02
-0.31
0.66
-0.02
46
0.0310
0.10
-0.02
-0.34
0.63
-0.02
47
0.0325
0.11
-0.02
-0.38
0.59
-0.02
48
0.0337
0.11
-0.02
-0.41
0.56
-0.02
49
0.0346
0.11
-0.02
-0.45
0.52
-0.02
50
0.0352
0.11
-0.02
-0.48
0.49
-0.02
51
0.0356
0.11
-0.02
-0.52
0.45
-0.02
52
0.0356
0.11
-0.02
-0.56
0.42
-0.02
53
0.0353
0.11
-0.02
-0.59
0.39
-0.02
54
0.0347
0.11
-0.02
-0.63
0.36
-0.02
55
0.0338
0.11
-0.02
-0.66
0.33
-0.02
56
0.0328
0.10
-0.02
-0.69
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.