■ 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 — 195 — is the max pain price.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)IQV open contracts per strike for Fri, Jan 21.
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, Jan 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 21
— call IV— put IVATM ≈ 40.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 21
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, Jan 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.02
185
0.0022
0.76
-0.03
-0.19
0.81
-0.02
190
0.0023
0.80
-0.03
-0.21
0.79
-0.02
195
0.0024
0.83
-0.03
-0.22
0.78
-0.03
200
0.0025
0.87
-0.04
-0.24
0.75
-0.03
210
0.0027
0.93
-0.04
-0.27
0.71
-0.03
220
0.0029
0.98
-0.04
-0.31
0.68
-0.03
230
0.0031
1.03
-0.04
-0.34
0.65
-0.04
240
0.0032
1.07
-0.04
-0.38
0.62
-0.04
250
0.0033
1.10
-0.04
-0.41
0.59
-0.04
260
0.0034
1.12
-0.04
-0.45
0.56
-0.04
270
0.0035
1.14
-0.04
-0.49
0.52
-0.04
280
0.0035
1.15
-0.04
-0.53
0.49
-0.04
290
0.0035
1.15
-0.04
-0.56
0.46
-0.04
300
0.0035
1.14
-0.04
-0.60
0.44
-0.04
310
0.0035
1.13
-0.04
-0.63
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 35 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.