■ 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 — 240 — is the max pain price.
Open interest by strike · Fri, Jan 15
■ calls (up)■ puts (down)TRGP open contracts per strike for Fri, Jan 15.
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 15
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jan 15
— call IV— put IVATM ≈ 30.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jan 15
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 15
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.03
210
0.0026
0.30
-0.04
-0.09
0.88
-0.04
220
0.0032
0.37
-0.04
-0.13
0.84
-0.04
230
0.0040
0.44
-0.05
-0.17
0.79
-0.05
240
0.0048
0.52
-0.06
-0.21
0.73
-0.06
250
0.0056
0.58
-0.06
-0.27
0.67
-0.06
260
0.0064
0.64
-0.07
-0.33
0.60
-0.07
270
0.0069
0.69
-0.07
-0.40
0.54
-0.07
280
0.0072
0.71
-0.07
-0.48
0.46
-0.07
290
0.0073
0.71
-0.07
-0.55
0.39
-0.07
300
0.0072
0.69
-0.07
-0.62
0.33
-0.06
310
0.0068
0.65
-0.06
-0.69
0.27
-0.06
320
0.0062
0.59
-0.06
-0.75
0.22
-0.05
330
0.0056
0.53
-0.05
-0.81
0.18
-0.04
340
0.0049
0.47
-0.05
-0.86
0.11
-0.03
360
0.0036
0.35
-0.04
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.