■ 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, Dec 18
■ calls (up)■ puts (down)SIVR 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 ≈ 42.4% · 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
0.78
-0.02
53
0.0190
0.11
-0.02
-0.23
0.76
-0.02
54
0.0201
0.11
-0.02
-0.25
0.74
-0.02
55
0.0211
0.12
-0.02
-0.27
0.71
-0.02
56
0.0220
0.12
-0.02
-0.30
0.66
-0.02
58
0.0235
0.13
-0.02
-0.35
0.64
-0.02
59
0.0241
0.14
-0.02
-0.38
0.61
-0.02
60
0.0246
0.14
-0.02
-0.40
0.59
-0.02
61
0.0249
0.14
-0.02
-0.43
0.54
-0.02
63
0.0251
0.14
-0.03
-0.48
0.52
-0.02
64
0.0251
0.14
-0.03
-0.50
0.49
-0.02
65
0.0250
0.14
-0.03
-0.53
0.47
-0.02
66
0.0247
0.14
-0.03
-0.55
0.45
-0.03
67
0.0244
0.14
-0.03
-0.57
0.43
-0.03
68
0.0240
0.14
-0.03
-0.59
0.41
-0.02
69
0.0236
0.14
-0.03
-0.61
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 43 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.