■ 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 — 53 — is the max pain price.
Open interest by strike · Fri, Oct 23
■ calls (up)■ puts (down)SLV open contracts per strike for Fri, Oct 23.
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, Oct 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 23
— call IV— put IVATM ≈ 33.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 23
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, Oct 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.03
49
0.0436
0.00
-0.03
-0.04
0.94
-0.04
49.5
0.0616
0.00
-0.04
-0.06
0.92
-0.05
50
0.0883
0.01
-0.05
-0.08
0.88
-0.07
50.5
0.1269
0.01
-0.07
-0.12
0.82
-0.10
51
0.1799
0.01
-0.10
-0.18
0.72
-0.12
51.5
0.2426
0.01
-0.12
-0.28
0.59
-0.15
52
0.2940
0.01
-0.15
-0.41
0.44
-0.15
52.5
0.3044
0.01
-0.15
-0.56
0.30
-0.12
53
0.2669
0.01
-0.13
-0.70
0.19
-0.09
53.5
0.2039
0.01
-0.09
-0.81
0.12
-0.06
54
0.1411
0.01
-0.06
-0.89
0.07
-0.04
54.5
0.0924
0.01
-0.03
-0.94
0.04
-0.02
55
0.0598
0.00
-0.02
-0.96
0.03
-0.01
55.5
0.0392
0.00
-0.01
-0.98
0.02
-0.01
56
0.0264
0.00
-0.01
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 56 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.