■ 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 — 175 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)AEM 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 ≈ 44.1% · 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
0.97
-0.03
150
0.0031
0.04
-0.04
-0.04
0.95
-0.04
155
0.0044
0.05
-0.05
-0.05
0.93
-0.06
160
0.0062
0.07
-0.06
-0.07
0.89
-0.08
165
0.0086
0.09
-0.08
-0.11
0.84
-0.10
170
0.0115
0.12
-0.10
-0.16
0.78
-0.12
175
0.0146
0.15
-0.12
-0.23
0.69
-0.14
180
0.0172
0.17
-0.14
-0.31
0.60
-0.16
185
0.0188
0.19
-0.16
-0.40
0.51
-0.17
190
0.0190
0.20
-0.17
-0.50
0.42
-0.17
195
0.0181
0.19
-0.17
-0.59
0.34
-0.16
200
0.0164
0.18
-0.16
-0.67
0.27
-0.15
205
0.0145
0.17
-0.15
-0.73
0.22
-0.14
210
0.0125
0.15
-0.14
-0.79
0.18
-0.13
215
0.0106
0.13
-0.12
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 19 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.