■ 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 — 220 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)TRGP 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 ≈ 30.6% · 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
0.92
-0.04
210
0.0025
0.25
-0.04
-0.08
0.89
-0.04
220
0.0033
0.31
-0.04
-0.11
0.85
-0.05
230
0.0042
0.38
-0.05
-0.15
0.80
-0.06
240
0.0051
0.45
-0.06
-0.20
0.74
-0.07
250
0.0061
0.52
-0.07
-0.26
0.67
-0.07
260
0.0070
0.58
-0.07
-0.33
0.60
-0.08
270
0.0076
0.62
-0.08
-0.41
0.52
-0.08
280
0.0080
0.64
-0.08
-0.49
0.44
-0.08
290
0.0080
0.64
-0.08
-0.57
0.37
-0.07
300
0.0077
0.61
-0.07
-0.64
0.30
-0.07
310
0.0072
0.56
-0.07
-0.71
0.24
-0.06
320
0.0064
0.51
-0.06
-0.77
0.19
-0.05
330
0.0056
0.45
-0.06
-0.83
0.15
-0.04
340
0.0048
0.38
-0.05
-0.88
0.12
-0.04
350
0.0040
0.33
-0.05
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 43 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.