Event risk before this expiration:Jobs report Fri, Aug 7 · CPI release Wed, Aug 12 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 240 — is the max pain price.
Open interest by strike · Fri, Aug 14
■ calls (up)■ puts (down)ADBE open contracts per strike for Fri, Aug 14.
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 14
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 14
— call IV— put IVATM ≈ 53.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 14
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 14
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.19
232.5
0.0074
0.07
-0.20
-0.09
0.89
-0.23
235
0.0087
0.08
-0.23
-0.11
0.86
-0.26
237.5
0.0100
0.09
-0.27
-0.14
0.83
-0.30
240
0.0114
0.10
-0.30
-0.17
0.80
-0.33
242.5
0.0128
0.11
-0.34
-0.20
0.77
-0.37
245
0.0141
0.13
-0.37
-0.23
0.73
-0.40
247.5
0.0153
0.14
-0.41
-0.27
0.69
-0.43
250
0.0163
0.14
-0.43
-0.31
0.64
-0.46
252.5
0.0172
0.15
-0.46
-0.36
0.60
-0.47
255
0.0178
0.16
-0.47
-0.40
0.55
-0.48
257.5
0.0183
0.16
-0.49
-0.45
0.51
-0.49
260
0.0184
0.16
-0.49
-0.49
0.46
-0.49
262.5
0.0184
0.16
-0.49
-0.54
0.42
-0.48
265
0.0181
0.16
-0.48
-0.58
0.37
-0.46
267.5
0.0175
0.15
-0.46
-0.63
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 58 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.