■ 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 — 41 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)AAAU open contracts per strike for Fri, Sep 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, Sep 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 24.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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, Sep 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.01
37
0.0194
0.01
-0.01
-0.04
0.95
-0.01
38
0.0259
0.01
-0.01
-0.06
0.93
-0.01
39
0.0350
0.02
-0.01
-0.07
0.90
-0.01
40
0.0480
0.02
-0.01
-0.10
0.86
-0.01
41
0.0659
0.03
-0.01
-0.14
0.79
-0.01
42
0.0895
0.04
-0.01
-0.21
0.70
-0.02
43
0.1158
0.04
-0.02
-0.30
0.57
-0.02
44
0.1342
0.05
-0.02
-0.42
0.44
-0.02
45
0.1330
0.05
-0.02
-0.56
0.32
-0.02
46
0.1153
0.05
-0.02
-0.67
0.24
-0.02
47
0.0930
0.04
-0.02
-0.76
0.18
-0.01
48
0.0731
0.03
-0.01
-0.82
0.14
-0.01
49
0.0574
0.03
-0.01
-0.86
0.11
-0.01
50
0.0454
0.02
-0.01
-0.89
0.09
-0.01
51
0.0363
0.02
-0.01
-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 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.