■ 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 — 27 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)KOD open contracts per strike for Fri, Jan 15.
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 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 145.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.02
23
0.0055
0.06
-0.03
-0.14
0.85
-0.03
25
0.0061
0.06
-0.03
-0.16
0.83
-0.03
27
0.0067
0.07
-0.03
-0.18
0.81
-0.03
29
0.0072
0.07
-0.03
-0.20
0.80
-0.03
30
0.0075
0.07
-0.04
-0.21
0.74
-0.04
35
0.0086
0.08
-0.04
-0.26
0.73
-0.04
36
0.0088
0.09
-0.04
-0.27
0.69
-0.04
40
0.0095
0.09
-0.04
-0.31
0.65
-0.04
45
0.0101
0.10
-0.04
-0.36
0.60
-0.04
50
0.0105
0.10
-0.04
-0.41
0.56
-0.05
55
0.0108
0.10
-0.04
-0.45
0.52
-0.05
60
0.0109
0.10
-0.04
-0.49
0.49
-0.05
65
0.0109
0.10
-0.04
-0.53
0.46
-0.05
70
0.0108
0.10
-0.04
-0.56
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 16 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.