■ 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 — 12 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)RUN open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 89.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
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, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.98
-0.00
3
0.0057
0.00
-0.00
-0.01
0.94
-0.00
5
0.0231
0.01
-0.00
-0.06
0.89
-0.00
6
0.0367
0.01
-0.00
-0.11
0.83
-0.01
7
0.0513
0.01
-0.01
-0.17
0.75
-0.01
8
0.0642
0.02
-0.01
-0.25
0.67
-0.01
9
0.0737
0.02
-0.01
-0.33
0.59
-0.01
10
0.0793
0.02
-0.01
-0.41
0.52
-0.01
11
0.0812
0.02
-0.01
-0.49
0.45
-0.01
12
0.0804
0.02
-0.01
-0.56
0.39
-0.01
13
0.0775
0.02
-0.01
-0.62
0.34
-0.01
14
0.0733
0.02
-0.01
-0.67
0.29
-0.01
15
0.0684
0.02
-0.01
-0.72
0.25
-0.01
16
0.0631
0.02
-0.01
-0.76
0.22
-0.01
17
0.0579
0.02
-0.01
-0.80
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 27 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.