■ 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 — 25 — is the max pain price.
Open interest by strike · Fri, Nov 20
■ calls (up)■ puts (down)TNGX open contracts per strike for Fri, Nov 20.
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, Nov 20
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Nov 20
— call IV— put IVATM ≈ 82.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Nov 20
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, Nov 20
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.01
18
0.0198
0.03
-0.01
-0.16
0.82
-0.02
19
0.0222
0.04
-0.02
-0.18
0.79
-0.02
20
0.0246
0.04
-0.02
-0.21
0.76
-0.02
21
0.0267
0.04
-0.02
-0.25
0.69
-0.02
23
0.0303
0.05
-0.02
-0.31
0.66
-0.02
24
0.0316
0.05
-0.02
-0.35
0.63
-0.02
25
0.0327
0.05
-0.02
-0.38
0.59
-0.02
26
0.0334
0.05
-0.02
-0.41
0.56
-0.02
27
0.0339
0.05
-0.02
-0.45
0.53
-0.02
28
0.0342
0.05
-0.02
-0.48
0.50
-0.02
29
0.0342
0.05
-0.02
-0.51
0.47
-0.02
30
0.0340
0.05
-0.02
-0.54
0.42
-0.02
32
0.0332
0.05
-0.02
-0.60
0.39
-0.02
33
0.0325
0.05
-0.02
-0.62
0.37
-0.02
34
0.0318
0.05
-0.02
-0.65
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.