■ 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 · Thu, Jun 17
■ calls (up)■ puts (down)TRGP open contracts per strike for Thu, Jun 17.
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 · Thu, Jun 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Jun 17
— call IV— put IVATM ≈ 32.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Jun 17
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 · Thu, Jun 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
175
0.0012
0.29
-0.02
-0.06
0.86
-0.03
210
0.0026
0.56
-0.03
-0.14
0.79
-0.04
230
0.0034
0.72
-0.04
-0.21
0.75
-0.04
240
0.0038
0.79
-0.04
-0.26
0.71
-0.04
250
0.0041
0.86
-0.05
-0.30
0.66
-0.05
260
0.0044
0.91
-0.05
-0.34
0.61
-0.05
270
0.0047
0.95
-0.05
-0.39
0.57
-0.05
280
0.0049
0.98
-0.05
-0.44
0.47
-0.05
300
0.0050
0.99
-0.05
-0.54
0.43
-0.05
310
0.0050
0.98
-0.05
-0.59
0.38
-0.05
320
0.0049
0.95
-0.05
-0.64
0.30
-0.04
340
0.0045
0.87
-0.04
-0.73
0.26
-0.04
350
0.0043
0.82
-0.04
-0.78
0.23
-0.04
360
0.0040
0.76
-0.04
-0.82
0.17
-0.03
380
0.0034
0.64
-0.04
-0.90
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.