■ 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 — 110 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)LDOS open contracts per strike for Fri, Feb 19.
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, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 38.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
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, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.02
100
0.0049
0.21
-0.02
-0.13
0.84
-0.02
105
0.0058
0.24
-0.03
-0.16
0.81
-0.03
110
0.0068
0.27
-0.03
-0.20
0.77
-0.03
115
0.0077
0.30
-0.03
-0.24
0.73
-0.03
120
0.0086
0.33
-0.03
-0.28
0.68
-0.03
125
0.0094
0.35
-0.04
-0.33
0.63
-0.03
130
0.0101
0.37
-0.04
-0.39
0.58
-0.04
135
0.0106
0.39
-0.04
-0.44
0.52
-0.04
140
0.0109
0.39
-0.04
-0.49
0.47
-0.04
145
0.0110
0.39
-0.04
-0.55
0.42
-0.04
150
0.0109
0.38
-0.04
-0.61
0.37
-0.03
155
0.0106
0.37
-0.03
-0.66
0.33
-0.03
160
0.0101
0.35
-0.03
-0.71
0.29
-0.03
165
0.0096
0.34
-0.03
-0.75
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 21 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.