■ 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 — 110 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)ICLR 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 ≈ 48.3% · 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
0.83
-0.04
130
0.0048
0.24
-0.05
-0.17
0.80
-0.05
135
0.0054
0.27
-0.05
-0.20
0.77
-0.05
140
0.0060
0.29
-0.06
-0.23
0.74
-0.06
145
0.0066
0.32
-0.06
-0.27
0.70
-0.06
150
0.0071
0.34
-0.07
-0.30
0.66
-0.07
155
0.0076
0.36
-0.07
-0.34
0.62
-0.07
160
0.0079
0.37
-0.07
-0.39
0.58
-0.07
165
0.0082
0.38
-0.07
-0.43
0.54
-0.07
170
0.0084
0.39
-0.07
-0.47
0.50
-0.07
175
0.0085
0.39
-0.07
-0.51
0.46
-0.07
180
0.0085
0.39
-0.07
-0.55
0.42
-0.07
185
0.0084
0.38
-0.07
-0.59
0.38
-0.07
190
0.0082
0.37
-0.07
-0.63
0.34
-0.07
195
0.0080
0.36
-0.06
-0.67
0.31
-0.06
200
0.0077
0.34
-0.06
-0.71
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 40 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.