■ 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 — 135 — is the max pain price.
Open interest by strike · Fri, Jan 21
■ calls (up)■ puts (down)TOL open contracts per strike for Fri, Jan 21.
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, Jan 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 21
— call IV— put IVATM ≈ 37.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 21
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, Jan 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.01
115
0.0038
0.47
-0.02
-0.19
0.80
-0.01
120
0.0041
0.51
-0.02
-0.22
0.77
-0.01
125
0.0044
0.54
-0.02
-0.24
0.74
-0.01
130
0.0048
0.57
-0.02
-0.27
0.72
-0.02
135
0.0050
0.60
-0.02
-0.30
0.69
-0.02
140
0.0053
0.63
-0.02
-0.33
0.66
-0.02
145
0.0055
0.65
-0.02
-0.36
0.64
-0.02
150
0.0057
0.67
-0.02
-0.39
0.61
-0.02
155
0.0058
0.68
-0.02
-0.42
0.58
-0.02
160
0.0060
0.69
-0.02
-0.46
0.55
-0.02
165
0.0061
0.70
-0.02
-0.49
0.52
-0.02
170
0.0061
0.71
-0.02
-0.52
0.50
-0.02
175
0.0062
0.71
-0.02
-0.55
0.47
-0.02
180
0.0062
0.71
-0.02
-0.59
0.45
-0.02
185
0.0062
0.70
-0.02
-0.62
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 32 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.