■ 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 — 210 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)SSD 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 ≈ 28.0% · 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
0.91
-0.02
150
0.0038
0.18
-0.02
-0.08
0.87
-0.03
160
0.0056
0.24
-0.03
-0.13
0.84
-0.04
165
0.0066
0.28
-0.04
-0.16
0.80
-0.04
170
0.0078
0.31
-0.04
-0.20
0.76
-0.04
175
0.0089
0.35
-0.04
-0.24
0.71
-0.04
180
0.0100
0.39
-0.05
-0.29
0.66
-0.05
185
0.0111
0.41
-0.05
-0.34
0.60
-0.05
190
0.0119
0.44
-0.05
-0.40
0.48
-0.05
200
0.0126
0.45
-0.05
-0.53
0.36
-0.05
210
0.0120
0.43
-0.05
-0.66
0.26
-0.04
220
0.0103
0.37
-0.04
-0.76
0.19
-0.03
230
0.0084
0.31
-0.04
-0.85
0.13
-0.03
240
0.0065
0.25
-0.03
-0.91
0.09
-0.02
250
0.0050
0.19
-0.03
-0.96
0.07
-0.02
260
0.0037
0.15
-0.02
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 24 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.