■ 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 — 155 — is the max pain price.
Open interest by strike · Fri, Dec 17
■ calls (up)■ puts (down)NVS open contracts per strike for Fri, Dec 17.
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 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Dec 17
— call IV— put IVATM ≈ 24.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Dec 17
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 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-0.01
120
0.0048
0.40
-0.01
-0.15
0.84
-0.01
125
0.0055
0.45
-0.01
-0.18
0.81
-0.01
130
0.0062
0.50
-0.01
-0.22
0.77
-0.01
135
0.0068
0.54
-0.01
-0.26
0.73
-0.01
140
0.0075
0.59
-0.02
-0.30
0.69
-0.01
145
0.0081
0.62
-0.02
-0.35
0.65
-0.01
150
0.0086
0.66
-0.02
-0.39
0.61
-0.01
155
0.0089
0.68
-0.02
-0.44
0.56
-0.01
160
0.0092
0.69
-0.02
-0.49
0.52
-0.01
165
0.0094
0.70
-0.02
-0.54
0.48
-0.02
170
0.0094
0.70
-0.02
-0.59
0.44
-0.01
175
0.0093
0.69
-0.01
-0.64
0.40
-0.01
180
0.0091
0.68
-0.01
-0.68
0.36
-0.01
185
0.0089
0.66
-0.01
-0.72
0.29
-0.01
195
0.0082
0.61
-0.01
-0.79
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 29 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.