■ 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 — 85 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)NGG open contracts per strike for Fri, Dec 18.
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, Dec 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 18
— call IV— put IVATM ≈ 22.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 18
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, Dec 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
—
45
0.0006
0.01
-0.00
-0.01
0.99
—
50
0.0012
0.01
-0.00
-0.01
0.98
—
55
0.0023
0.02
-0.00
-0.02
0.97
-0.00
60
0.0044
0.03
-0.01
-0.04
0.94
-0.00
65
0.0084
0.05
-0.01
-0.07
0.90
-0.01
70
0.0154
0.09
-0.01
-0.13
0.80
-0.01
75
0.0262
0.13
-0.01
-0.23
0.64
-0.02
80
0.0377
0.17
-0.02
-0.40
0.44
-0.02
85
0.0411
0.18
-0.01
-0.59
0.27
-0.01
90
0.0337
0.15
-0.01
-0.75
0.15
-0.01
95
0.0230
0.11
-0.01
-0.86
0.09
-0.01
100
0.0147
0.08
-0.00
-0.92
0.05
-0.01
105
0.0093
0.05
-0.00
-0.96
0.03
-0.00
110
0.0060
0.04
-0.01
-1.00
0.02
-0.00
115
0.0039
0.03
-0.01
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 18 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.