■ 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 — 675 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)MDY 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 ≈ 17.1% · 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
0.82
-0.07
645
0.0027
1.20
-0.08
-0.18
0.81
-0.07
650
0.0029
1.25
-0.08
-0.19
0.78
-0.08
660
0.0032
1.35
-0.09
-0.22
0.75
-0.08
670
0.0035
1.45
-0.09
-0.25
0.74
-0.09
675
0.0037
1.50
-0.10
-0.27
0.64
-0.09
700
0.0046
1.72
-0.10
-0.37
0.59
-0.10
710
0.0049
1.78
-0.10
-0.42
0.57
-0.10
715
0.0050
1.80
-0.10
-0.45
0.54
-0.10
720
0.0051
1.81
-0.10
-0.47
0.52
-0.10
725
0.0052
1.82
-0.10
-0.50
0.49
-0.10
730
0.0053
1.82
-0.10
-0.53
0.34
-0.08
760
0.0051
1.68
-0.09
-0.71
0.24
-0.07
780
0.0045
1.45
-0.07
-0.82
0.17
-0.06
800
0.0036
1.18
-0.05
-0.91
0.14
-0.05
810
0.0032
1.04
-0.07
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.