■ 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 — 195 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)ATI open contracts per strike for Fri, Sep 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 44.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.07
180
0.0033
0.09
-0.07
-0.06
0.92
-0.08
185
0.0041
0.11
-0.08
-0.08
0.90
-0.09
190
0.0051
0.13
-0.09
-0.10
0.87
-0.10
195
0.0062
0.15
-0.10
-0.13
0.83
-0.12
200
0.0074
0.18
-0.12
-0.17
0.75
-0.15
210
0.0098
0.23
-0.15
-0.26
0.64
-0.17
220
0.0118
0.27
-0.17
-0.37
0.51
-0.18
230
0.0126
0.28
-0.18
-0.49
0.39
-0.17
240
0.0121
0.27
-0.18
-0.62
0.29
-0.15
250
0.0106
0.24
-0.16
-0.72
0.20
-0.13
260
0.0087
0.20
-0.13
-0.81
0.14
-0.10
270
0.0068
0.16
-0.11
-0.87
0.10
-0.08
280
0.0051
0.12
-0.09
-0.92
0.07
-0.06
290
0.0038
0.09
-0.07
-0.95
0.04
-0.04
300
0.0027
0.07
-0.05
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.