■ 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 — 155 — is the max pain price.
Open interest by strike · Fri, Mar 19
■ calls (up)■ puts (down)SSD open contracts per strike for Fri, Mar 19.
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, Mar 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Mar 19
— call IV— put IVATM ≈ 29.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Mar 19
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, Mar 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
135
0.0022
0.17
-0.01
-0.06
0.93
-0.01
140
0.0027
0.21
-0.02
-0.07
0.91
-0.01
145
0.0033
0.25
-0.02
-0.09
0.89
-0.02
150
0.0039
0.29
-0.02
-0.11
0.86
-0.02
155
0.0045
0.33
-0.03
-0.14
0.66
-0.04
185
0.0079
0.55
-0.04
-0.35
0.61
-0.04
190
0.0083
0.57
-0.04
-0.40
0.57
-0.04
195
0.0086
0.58
-0.04
-0.44
0.29
-0.03
230
0.0078
0.51
-0.04
-0.75
0.23
-0.03
240
0.0070
0.45
-0.03
-0.83
0.17
-0.03
250
0.0060
0.39
-0.03
-0.90
0.13
-0.02
260
0.0050
0.32
-0.03
-0.95
0.10
-0.02
270
0.0040
0.26
-0.01
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 16 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.