■ 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 — 165 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)MMM 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 ≈ 38.2% · 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
-0.04
155
0.0055
0.01
-0.04
-0.02
0.97
-0.06
157.5
0.0083
0.01
-0.06
-0.03
0.96
-0.09
160
0.0133
0.01
-0.09
-0.04
0.92
-0.13
162.5
0.0220
0.02
-0.13
-0.08
0.86
-0.21
165
0.0360
0.04
-0.21
-0.14
0.76
-0.32
167.5
0.0531
0.05
-0.32
-0.25
0.60
-0.41
170
0.0654
0.06
-0.41
-0.40
0.44
-0.42
172.5
0.0665
0.06
-0.42
-0.57
0.28
-0.35
175
0.0570
0.05
-0.35
-0.72
0.16
-0.24
177.5
0.0415
0.04
-0.24
-0.84
0.09
-0.14
180
0.0259
0.03
-0.14
-0.92
0.04
-0.07
182.5
0.0148
0.01
-0.07
-0.96
0.02
-0.04
185
0.0085
0.01
-0.04
-0.98
0.01
-0.03
187.5
0.0052
0.01
-0.03
-0.99
0.01
-0.02
190
0.0034
0.00
-0.02
-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.