■ 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 — 160 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)ALGN open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 32.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.03
135
0.0029
0.04
-0.05
-0.04
0.95
-0.04
140
0.0037
0.04
-0.05
-0.04
0.94
-0.04
145
0.0049
0.05
-0.06
-0.06
0.93
-0.05
150
0.0066
0.06
-0.06
-0.07
0.86
-0.08
160
0.0130
0.10
-0.08
-0.14
0.79
-0.10
165
0.0179
0.13
-0.10
-0.21
0.69
-0.12
170
0.0225
0.15
-0.13
-0.32
0.56
-0.14
175
0.0252
0.17
-0.14
-0.44
0.44
-0.14
180
0.0252
0.17
-0.14
-0.56
0.33
-0.13
185
0.0226
0.16
-0.13
-0.68
0.24
-0.12
190
0.0185
0.14
-0.12
-0.77
0.18
-0.11
195
0.0147
0.12
-0.10
-0.82
0.15
-0.10
200
0.0118
0.10
-0.10
-0.86
0.13
-0.10
205
0.0096
0.09
-0.09
-0.88
0.11
-0.10
210
0.0080
0.08
-0.09
-0.90
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 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.