■ 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 — 65 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)MSGE 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 ≈ 39.2% · 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
0.97
—
45
0.0018
0.03
-0.01
-0.02
0.96
0.00
50
0.0028
0.04
-0.01
-0.04
0.91
-0.01
60
0.0061
0.09
-0.01
-0.09
0.87
-0.01
65
0.0085
0.12
-0.02
-0.13
0.82
-0.02
70
0.0112
0.15
-0.02
-0.18
0.75
-0.02
75
0.0139
0.18
-0.02
-0.26
0.67
-0.02
80
0.0162
0.20
-0.03
-0.34
0.58
-0.03
85
0.0178
0.22
-0.03
-0.43
0.49
-0.03
90
0.0184
0.22
-0.03
-0.52
0.41
-0.03
95
0.0180
0.22
-0.03
-0.61
0.33
-0.02
100
0.0168
0.20
-0.02
-0.69
0.26
-0.02
105
0.0151
0.18
-0.02
-0.77
0.21
-0.02
110
0.0132
0.16
-0.02
-0.83
0.16
-0.02
115
0.0113
0.14
-0.01
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 15 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.