■ 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 — 44 — is the max pain price.
Open interest by strike · Fri, Oct 16
■ calls (up)■ puts (down)GBUG open contracts per strike for Fri, Oct 16.
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, Oct 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 16
— call IV— put IVATM ≈ 47.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 16
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, Oct 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.77
-0.02
38
0.0289
0.06
-0.02
-0.23
0.74
-0.02
39
0.0319
0.06
-0.02
-0.26
0.71
-0.02
40
0.0348
0.07
-0.02
-0.29
0.67
-0.02
41
0.0374
0.07
-0.02
-0.33
0.59
-0.03
43
0.0408
0.07
-0.03
-0.41
0.55
-0.03
44
0.0410
0.08
-0.03
-0.45
0.51
-0.03
45
0.0405
0.08
-0.03
-0.48
0.36
-0.03
50
0.0323
0.07
-0.03
-0.63
0.32
-0.03
52
0.0290
0.07
-0.03
-0.66
0.28
-0.03
55
0.0249
0.07
-0.03
-0.71
0.27
-0.03
56
0.0237
0.06
-0.03
-0.72
0.26
-0.03
57
0.0227
0.06
-0.03
-0.73
0.25
-0.03
58
0.0217
0.06
-0.03
-0.74
0.24
-0.03
59
0.0208
0.06
-0.03
-0.74
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 17 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.