■ 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 — 90 — is the max pain price.
Open interest by strike · Fri, Dec 18
■ calls (up)■ puts (down)TRI 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 ≈ 46.0% · 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
-0.02
70
0.0046
0.09
-0.02
-0.08
0.89
-0.02
75
0.0060
0.11
-0.02
-0.12
0.85
-0.03
80
0.0077
0.14
-0.03
-0.15
0.80
-0.03
85
0.0095
0.17
-0.03
-0.20
0.75
-0.04
90
0.0113
0.19
-0.04
-0.26
0.68
-0.04
95
0.0128
0.21
-0.04
-0.33
0.61
-0.04
100
0.0140
0.23
-0.04
-0.40
0.54
-0.04
105
0.0147
0.24
-0.04
-0.47
0.47
-0.04
110
0.0148
0.24
-0.04
-0.54
0.40
-0.04
115
0.0144
0.23
-0.04
-0.61
0.34
-0.04
120
0.0137
0.22
-0.04
-0.67
0.28
-0.04
125
0.0127
0.20
-0.04
-0.73
0.23
-0.03
130
0.0115
0.18
-0.03
-0.78
0.19
-0.03
135
0.0102
0.17
-0.03
-0.82
0.16
-0.03
140
0.0090
0.15
-0.03
-0.86
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.