■ 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 — 230 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)JNJ open contracts per strike for Fri, Sep 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, Sep 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 24.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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, Sep 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
-0.01
195
0.0009
0.02
-0.01
-0.02
0.99
-0.01
200
0.0012
0.03
-0.01
-0.02
0.98
-0.02
210
0.0022
0.05
-0.02
-0.03
0.95
-0.03
220
0.0044
0.10
-0.03
-0.06
0.89
-0.05
230
0.0081
0.17
-0.05
-0.12
0.79
-0.07
240
0.0129
0.27
-0.07
-0.23
0.64
-0.09
250
0.0169
0.35
-0.09
-0.38
0.46
-0.09
260
0.0179
0.37
-0.09
-0.55
0.30
-0.08
270
0.0155
0.33
-0.08
-0.72
0.17
-0.06
280
0.0114
0.24
-0.06
-0.84
0.10
-0.04
290
0.0073
0.16
-0.04
-0.92
0.05
-0.03
300
0.0045
0.10
-0.02
-0.96
0.03
-0.02
310
0.0029
0.07
-0.02
-0.98
0.02
-0.01
320
0.0020
0.06
-0.01
-0.98
0.02
-0.01
330
0.0015
0.05
-0.01
-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 41 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.