Option Chains are a way to look at possible pinning of stock price if the MM (Market Maker) is in control of the stock price. Max Pain theory says that the option sellers (called writers) have stock on hand to fulfill the options if they are exercised. These stock positions are maintained to minimize risk to the sellers, and this maintenance affects the stock price. This article is a discussion of max pain with Neil Pearsons, Illinois Professor of Financial Markets.
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2022-03-18 | 55.00 | 17.8474 | 55.00 | 47.50 | 570 | 10,173 | 10,743 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 40.00 | 0.05 | 0.00 | 0.00 | 300 | 1,800 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 42.50 | 0.10 | 0.00 | 0.00 | 0 | 55 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 47.50 | 0.20 | 0.15 | 300.00 | 14 | 7,884 |
| 5.40 | 0.00 | 0.00 | 5 | 7 | 50.00 | 0.75 | 0.00 | 0.00 | 0 | 2 |
| 2.95 | 0.00 | 0.00 | 0 | 9 | 52.50 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.70 | -0.05 | -6.67 | 2 | 435 | 55.00 | 0.60 | 0.05 | 9.09 | 12 | 431 |
| 0.10 | 0.00 | 0.00 | 3 | 119 | 57.50 | 1.78 | 0.00 | 0.00 | 0 | 1 |
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2022-04-14 | 50.00 | 1.2980 | 60.00 | 50.00 | 4,950 | 6,425 | 11,375 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 25.00 | 0.20 | 0.00 | 0.00 | 10 | 14 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 28.00 | 0.35 | 0.00 | 0.00 | 0 | 10 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 30.00 | 0.10 | 0.00 | 0.00 | 5 | 34 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 33.00 | 0.50 | 0.00 | 0.00 | 0 | 1 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 38.00 | 0.19 | 0.00 | 0.00 | 20 | 169 |
| 14.50 | 0.00 | 0.00 | 1 | 1 | 40.00 | 0.24 | 0.00 | 0.00 | 2 | 574 |
| 13.50 | 0.00 | 0.00 | 2 | 5 | 42.00 | 0.25 | 0.00 | 0.00 | 10 | 883 |
| 12.88 | 0.00 | 0.00 | 1 | 1 | 45.00 | 0.15 | 0.00 | 0.00 | 5 | 288 |
| 9.40 | 0.00 | 0.00 | 1 | 11 | 47.00 | 0.20 | 0.00 | 0.00 | 55 | 1,797 |
| 5.50 | -0.10 | -1.79 | 10 | 426 | 50.00 | 0.40 | 0.00 | 0.00 | 12 | 2,335 |
| 3.10 | 0.00 | 0.00 | 25 | 52 | 52.50 | 0.50 | 0.00 | 0.00 | 2 | 163 |
| 0.90 | 0.00 | 0.00 | 21 | 1,655 | 55.00 | 0.53 | 0.00 | 0.00 | 34 | 157 |
| 0.10 | 0.00 | 0.00 | 19 | 643 | 57.50 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 10 | 2,012 | 60.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.10 | 0.00 | 0.00 | 1 | 61 | 62.50 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 5 | 78 | 65.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 3 | 4 | 70.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.75 | 0.00 | 0.00 | 1 | 1 | 75.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 0 | 0 | 80.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2022-07-15 | 55.00 | 0.0316 | 57.50 | 50.00 | 7,900 | 250 | 8,150 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 32.50 | 1.00 | 0.00 | 0.00 | 0 | 10 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 40.00 | 0.15 | 0.00 | 0.00 | 0 | 1 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 45.00 | 0.20 | 0.00 | 0.00 | 5 | 13 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 50.00 | 0.50 | 0.00 | 0.00 | 2 | 202 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 52.50 | 0.90 | 0.00 | 0.00 | 1 | 20 |
| 1.00 | 0.00 | 0.00 | 13 | 346 | 55.00 | 0.75 | 0.00 | 0.00 | 1 | 4 |
| 0.05 | -0.05 | -50.00 | 4 | 7,554 | 57.50 | 2.60 | 0.00 | 0.00 | 0 | 0 |
| 0.15 | 0.00 | 0.00 | 2 | 0 | 60.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.10 | 0.00 | 0.00 | 0 | 0 | 75.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2022-10-21 | 45.00 | +Inf | 0.00 | 42.50 | 0 | 10 | 10 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 42.50 | 0.15 | 0.15 | 0.00 | 0 | 5 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 45.00 | 0.25 | 0.25 | 0.00 | 0 | 5 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 50.00 | 0.60 | 0.60 | 0.00 | 1 | 0 |
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2023-01-20 | 52.50 | 0.7618 | 60.00 | 50.00 | 11,880 | 9,050 | 20,930 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 32.18 | 0.00 | 0.00 | 10 | 10 | 18.00 | 0.10 | 0.00 | 0.00 | 1 | 53 |
| 35.00 | 0.00 | 0.00 | 5 | 13 | 20.00 | 0.05 | 0.00 | 0.00 | 2 | 22 |
| 21.34 | 0.00 | 0.00 | 0 | 1 | 23.00 | 0.05 | 0.00 | 0.00 | 5 | 26 |
| 30.20 | 0.00 | 0.00 | 3 | 7 | 25.00 | 0.10 | 0.00 | 0.00 | 5 | 11 |
| 25.00 | 0.00 | 0.00 | 1 | 1 | 28.00 | 0.05 | 0.00 | 0.00 | 20 | 249 |
| 26.01 | 0.00 | 0.00 | 3 | 9 | 30.00 | 0.05 | 0.00 | 0.00 | 9 | 146 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 32.00 | 0.05 | 0.00 | 0.00 | 15 | 25 |
| 21.10 | 0.00 | 0.00 | 8 | 20 | 35.00 | 0.20 | 0.00 | 0.00 | 1 | 98 |
| 19.45 | 0.00 | 0.00 | 7 | 5 | 37.00 | 0.20 | 0.00 | 0.00 | 1 | 90 |
| 16.62 | 0.00 | 0.00 | 2 | 18 | 40.00 | 0.35 | 0.00 | 0.00 | 2 | 1,604 |
| 15.00 | 0.00 | 0.00 | 1 | 17 | 42.00 | 0.45 | 0.00 | 0.00 | 2 | 469 |
| 10.70 | 0.00 | 0.00 | 1 | 692 | 45.00 | 0.50 | 0.00 | 0.00 | 50 | 1,269 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 47.50 | 0.42 | 0.00 | 0.00 | 40 | 93 |
| 6.00 | 0.00 | 0.00 | 2 | 899 | 50.00 | 0.50 | 0.15 | 42.86 | 3 | 3,108 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 52.50 | 0.55 | -1.30 | -70.27 | 1 | 487 |
| 1.25 | -0.05 | -3.85 | 7 | 2,109 | 55.00 | 0.60 | 0.00 | 0.00 | 3 | 1,189 |
| 0.10 | 0.00 | 0.00 | 2 | 187 | 57.50 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.15 | 0.00 | 0.00 | 3 | 5,767 | 60.00 | 5.50 | 0.00 | 0.00 | 1 | 83 |
| 0.10 | 0.00 | 0.00 | 3 | 980 | 65.00 | 12.50 | 0.00 | 0.00 | 0 | 19 |
| 0.10 | 0.00 | 0.00 | 1 | 335 | 70.00 | 17.10 | 0.00 | 0.00 | 0 | 5 |
| 0.05 | 0.00 | 0.00 | 13 | 810 | 75.00 | 35.10 | 0.00 | 0.00 | 0 | 4 |
| Maturity | Max Pain | Put Call Ratio | Call with Highest OI | Put with Highest OI | Total Call OI | Total Put OI | Total OI |
|---|---|---|---|---|---|---|---|
| 2024-01-19 | 55.00 | 1.5227 | 57.50 | 55.00 | 1,033 | 1,573 | 2,606 |
| Call | Strike | Put | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Last Price | Change | % Change | Volume | Interest | Last Price | Change | % Change | Volume | Interest | |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 30.00 | 0.15 | 0.00 | 0.00 | 20 | 32 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 32.50 | 0.10 | 0.00 | 0.00 | 5 | 13 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 37.50 | 0.45 | 0.00 | 0.00 | 3 | 10 |
| 16.00 | 0.00 | 0.00 | 0 | 11 | 40.00 | 0.35 | 0.00 | 0.00 | 5 | 40 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 42.50 | 0.30 | 0.00 | 0.00 | 5 | 222 |
| 11.35 | 0.00 | 0.00 | 7 | 17 | 45.00 | 0.55 | 0.00 | 0.00 | 2 | 20 |
| 0.00 | 0.00 | 0.00 | 0 | 0 | 47.50 | 0.55 | 0.00 | 0.00 | 2 | 13 |
| 6.60 | 0.00 | 0.00 | 24 | 36 | 50.00 | 0.75 | 0.00 | 0.00 | 20 | 321 |
| 4.20 | 0.00 | 0.00 | 0 | 1 | 52.50 | 0.80 | 0.00 | 0.00 | 1 | 274 |
| 1.80 | 0.30 | 20.00 | 1 | 210 | 55.00 | 0.60 | -0.05 | -7.69 | 1 | 628 |
| 0.15 | -0.25 | -62.50 | 3 | 425 | 57.50 | 1.50 | 0.00 | 0.00 | 1 | 0 |
| 0.10 | 0.00 | 0.00 | 1 | 163 | 60.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.10 | 0.00 | 0.00 | 50 | 95 | 62.50 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.10 | 0.00 | 0.00 | 5 | 44 | 65.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 5 | 21 | 70.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |
| 0.05 | 0.00 | 0.00 | 0 | 10 | 75.00 | 0.00 | 0.00 | 0.00 | 0 | 0 |