■ 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 — 37.5 — is the max pain price.
Open interest by strike · Fri, Dec 17
■ calls (up)■ puts (down)SNY 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 ≈ 26.9% · 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
0.98
—
27.5
0.0056
0.03
-0.00
-0.07
0.95
—
30
0.0092
0.05
-0.00
-0.10
0.92
-0.00
32.5
0.0139
0.08
-0.00
-0.15
0.87
-0.00
35
0.0192
0.10
-0.00
-0.20
0.81
-0.00
37.5
0.0245
0.13
-0.00
-0.26
0.73
-0.00
40
0.0292
0.16
-0.01
-0.34
0.65
-0.00
42.5
0.0324
0.18
-0.01
-0.42
0.57
-0.00
45
0.0341
0.19
-0.01
-0.50
0.49
-0.01
47.5
0.0343
0.19
-0.00
-0.58
0.41
-0.00
50
0.0332
0.19
-0.00
-0.66
0.35
-0.00
52.5
0.0313
0.18
-0.00
-0.73
0.29
-0.00
55
0.0288
0.17
-0.00
-0.79
0.24
-0.00
57.5
0.0259
0.15
-0.00
-0.84
0.19
-0.00
60
0.0230
0.14
0.00
-0.88
0.13
-0.00
65
0.0175
0.10
—
-0.93
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 19 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.