■ 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 — 22 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)KHC 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 ≈ 30.1% · 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
0.98
-0.01
19
0.0293
0.00
-0.01
-0.03
0.97
-0.01
19.5
0.0430
0.00
-0.01
-0.04
0.95
-0.01
20
0.0643
0.00
-0.01
-0.05
0.92
-0.01
20.5
0.0979
0.01
-0.01
-0.08
0.88
-0.01
21
0.1502
0.01
-0.01
-0.13
0.80
-0.02
21.5
0.2270
0.01
-0.02
-0.20
0.68
-0.02
22
0.3204
0.01
-0.02
-0.33
0.51
-0.02
22.5
0.3831
0.01
-0.02
-0.50
0.32
-0.02
23
0.3510
0.01
-0.02
-0.69
0.18
-0.01
23.5
0.2501
0.01
-0.01
-0.84
0.10
-0.01
24
0.1552
0.01
-0.01
-0.93
0.05
-0.01
24.5
0.0920
0.00
-0.01
-0.97
0.03
-0.00
25
0.0545
0.00
-0.01
-0.99
0.02
-0.00
25.5
0.0329
0.00
-0.00
-1.00
0.01
-0.00
26
0.0203
0.00
-0.00
-1.00
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.