■ 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 — 9 — is the max pain price.
Open interest by strike · Fri, Oct 16
■ calls (up)■ puts (down)TK open contracts per strike for Fri, Oct 16.
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 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 16
— call IV— put IVATM ≈ 40.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 16
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 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
-0.00
1.5
0.0012
0.00
-0.00
-0.00
0.97
-0.00
6.5
0.0123
0.00
-0.00
-0.02
0.94
-0.00
9
0.0419
0.01
-0.00
-0.06
0.90
-0.00
10
0.0747
0.01
-0.00
-0.10
0.73
-0.01
11.5
0.1740
0.02
-0.01
-0.26
0.53
-0.01
12.5
0.2145
0.02
-0.01
-0.47
0.29
-0.01
14
0.1578
0.02
-0.01
-0.72
0.20
-0.01
15
0.1161
0.01
-0.01
-0.81
0.12
-0.00
16.5
0.0743
0.01
-0.00
-0.89
0.09
-0.00
17.5
0.0564
0.01
-0.00
-0.92
0.06
-0.00
19
0.0384
0.01
-0.00
-0.95
0.03
-0.00
21.5
0.0218
0.00
-0.00
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.