■ 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 — 290 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)VMC open contracts per strike for Fri, Feb 19.
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, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 27.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
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, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.01
200
0.0017
0.23
-0.02
-0.06
0.92
-0.02
210
0.0023
0.29
-0.03
-0.08
0.89
-0.02
220
0.0030
0.37
-0.03
-0.11
0.81
-0.04
240
0.0045
0.54
-0.04
-0.19
0.76
-0.04
250
0.0053
0.62
-0.05
-0.25
0.70
-0.05
260
0.0061
0.69
-0.05
-0.31
0.63
-0.05
270
0.0067
0.74
-0.06
-0.38
0.56
-0.06
280
0.0071
0.78
-0.06
-0.45
0.49
-0.06
290
0.0073
0.79
-0.06
-0.53
0.42
-0.06
300
0.0072
0.78
-0.06
-0.60
0.36
-0.05
310
0.0069
0.74
-0.06
-0.67
0.30
-0.05
320
0.0064
0.69
-0.05
-0.74
0.24
-0.04
330
0.0058
0.63
-0.05
-0.80
0.20
-0.04
340
0.0052
0.56
-0.04
-0.86
0.16
-0.03
350
0.0045
0.49
-0.04
-0.91
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 28 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.