■ 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 — 46.5 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)IBIT open contracts per strike for Fri, Oct 23.
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 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 23
— call IV— put IVATM ≈ 39.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 23
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 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.02
42.5
0.0310
0.00
-0.02
-0.03
0.97
-0.02
43
0.0434
0.00
-0.02
-0.03
0.95
-0.03
43.5
0.0623
0.00
-0.03
-0.05
0.93
-0.04
44
0.0926
0.00
-0.04
-0.07
0.90
-0.06
44.5
0.1436
0.00
-0.06
-0.10
0.83
-0.09
45
0.2304
0.01
-0.10
-0.17
0.71
-0.18
45.5
0.3473
0.01
-0.18
-0.29
0.52
-0.34
46
0.4174
0.01
-0.34
-0.49
0.32
-0.19
46.5
0.3682
0.01
-0.20
-0.69
0.17
-0.09
47
0.2536
0.01
-0.10
-0.83
0.10
-0.05
47.5
0.1544
0.00
-0.06
-0.92
0.05
-0.03
48
0.0919
0.00
-0.04
-0.96
0.03
-0.01
48.5
0.0558
0.00
-0.03
-0.98
0.02
-0.01
49
0.0348
0.00
-0.03
-0.99
0.01
-0.01
49.5
0.0222
0.00
-0.02
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 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.