■ 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 — 34 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)IPI 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 ≈ 51.6% · 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
0.80
-0.01
30
0.0241
0.06
-0.01
-0.20
0.77
-0.01
31
0.0264
0.07
-0.01
-0.23
0.74
-0.01
32
0.0285
0.07
-0.01
-0.26
0.70
-0.01
33
0.0305
0.07
-0.02
-0.30
0.67
-0.02
34
0.0322
0.08
-0.02
-0.33
0.64
-0.02
35
0.0337
0.08
-0.02
-0.37
0.60
-0.02
36
0.0348
0.08
-0.02
-0.40
0.57
-0.02
37
0.0357
0.08
-0.02
-0.44
0.53
-0.02
38
0.0362
0.09
-0.02
-0.48
0.50
-0.02
39
0.0364
0.09
-0.02
-0.51
0.46
-0.02
40
0.0362
0.09
-0.02
-0.55
0.43
-0.02
41
0.0358
0.08
-0.02
-0.58
0.40
-0.02
42
0.0352
0.08
-0.02
-0.61
0.37
-0.02
43
0.0344
0.08
-0.02
-0.64
0.34
-0.02
44
0.0333
0.08
-0.02
-0.67
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 27 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.