■ 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 — 335 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)AXP open contracts per strike for Fri, Aug 28.
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 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 26.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
1.00
-0.04
315
0.0014
0.00
-0.01
-0.01
0.99
-0.04
317.5
0.0025
0.00
-0.02
-0.01
0.99
-0.05
320
0.0046
0.01
-0.03
-0.01
0.98
-0.07
322.5
0.0088
0.01
-0.05
-0.02
0.96
-0.11
325
0.0171
0.01
-0.09
-0.04
0.92
-0.20
327.5
0.0329
0.03
-0.19
-0.09
0.82
-0.43
330
0.0594
0.05
-0.43
-0.18
0.65
-1.02
332.5
0.0876
0.07
-1.02
-0.35
0.42
-1.29
335
0.0898
0.07
-1.29
-0.58
0.24
-0.64
337.5
0.0657
0.06
-0.64
-0.76
0.13
-0.32
340
0.0408
0.04
-0.32
-0.87
0.07
-0.17
342.5
0.0242
0.03
-0.17
-0.93
0.04
-0.10
345
0.0144
0.02
-0.10
-0.96
0.03
-0.06
347.5
0.0087
0.01
-0.06
-0.97
0.01
-0.04
350
0.0054
0.01
-0.03
-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 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.