Max pain // Cboe delayed data · as of Aug 14, 2:05 PM ET

ACMR max pain

Spot (delayed)$81.9
Max pain · Fri, Aug 28$75-8.4% vs spot
Expected move (ATM straddle)±$11.1±13.6% by Fri, Aug 28
Put/Call OI0.59267 puts / 449 calls
Call wall$75largest call OI
Put wall$75largest put OI
IV3085.6%30-day implied vol
Net GEX+$15Kper 1% move · flip ≈ $55

Max pain levels

ExpiryMax painvs spotDTE
Fri, Aug 21$74-9.6%6d
Fri, Aug 28$75-8.4%13d
Fri, Sep 4$84+2.6%20d
Fri, Sep 11$79-3.5%27d
Fri, Sep 18$90+9.9%34d
Fri, Sep 25$70-14.5%41d
Fri, Nov 20$65-20.6%97d
Fri, Jan 15$60-26.7%153d

The writer-loss curve — where max pain comes from

spot75557493112131150$2M$0
■ 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 — 75 — is the max pain price.

Open interest by strike · Fri, Aug 28

spot75556475941081256363
■ calls (up)■ puts (down)ACMR open contracts per strike for Fri, Aug 28.

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, Aug 28

spot755564759410812511
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).

Implied volatility by strike · Fri, Aug 28

spot557493112131150160%58%
— call IV— put IVATM ≈ 85.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.

Gamma exposure by strike · Fri, Aug 28

spotflip 5555657795110135+$9K$9K
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, Aug 28

Call ΔCall ΘStrikeΓVegaPut ΘPut Δ
0.83-0.13700.01680.04-0.13-0.17
0.79-0.15720.01950.05-0.15-0.21
0.77-0.15730.02080.05-0.15-0.23
0.73-0.17750.02340.05-0.17-0.27
0.68-0.18770.02550.06-0.18-0.33
0.59-0.19800.02780.06-0.19-0.41
0.56-0.19810.02830.06-0.20-0.44
0.54-0.20820.02850.06-0.20-0.47
0.45-0.20850.02830.06-0.20-0.55
0.33-0.18900.02530.06-0.18-0.67
0.29-0.17920.02360.06-0.17-0.71
0.25-0.17940.02170.05-0.17-0.75
0.24-0.16950.02080.05-0.16-0.77
0.22-0.15960.01990.05-0.16-0.78
0.19-0.14980.01810.04-0.15-0.81

Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 44 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.

Stacked — layer the expirations

spot20466785981193K0
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.

All expirations combined — total open interest

spot7.5325075961407K7K
■ calls (up)■ puts (down)Every expiration combined: 34K call contracts, 20K put contracts open.

Reading this honestly

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.

Keep going: ACMR workspace · max pain, explained in full · options profit calculator · GEX, defined · pin risk