■ 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 — 260 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)ADBE open contracts per strike for Fri, Sep 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 11
— call IV— put IVATM ≈ 56.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.13
215
0.0044
0.18
-0.14
-0.13
0.84
-0.15
220
0.0050
0.20
-0.15
-0.16
0.81
-0.17
225
0.0057
0.22
-0.17
-0.19
0.78
-0.19
230
0.0063
0.25
-0.19
-0.22
0.74
-0.20
235
0.0068
0.27
-0.20
-0.26
0.70
-0.22
240
0.0073
0.28
-0.22
-0.30
0.67
-0.23
245
0.0078
0.30
-0.23
-0.34
0.62
-0.24
250
0.0081
0.31
-0.24
-0.38
0.58
-0.24
255
0.0084
0.32
-0.25
-0.42
0.54
-0.25
260
0.0085
0.33
-0.25
-0.46
0.50
-0.25
265
0.0086
0.33
-0.25
-0.51
0.46
-0.25
270
0.0085
0.33
-0.25
-0.55
0.41
-0.24
275
0.0084
0.32
-0.24
-0.59
0.38
-0.24
280
0.0081
0.31
-0.24
-0.63
0.34
-0.23
285
0.0079
0.30
-0.23
-0.66
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 36 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.