■ 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, Sep 25
■ calls (up)■ puts (down)AXP open contracts per strike for Fri, Sep 25.
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 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 23.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
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 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.04
300
0.0052
0.13
-0.06
-0.07
0.90
-0.06
305
0.0069
0.17
-0.07
-0.10
0.87
-0.08
310
0.0089
0.21
-0.09
-0.14
0.82
-0.10
315
0.0112
0.25
-0.11
-0.18
0.76
-0.12
320
0.0136
0.29
-0.12
-0.24
0.69
-0.13
325
0.0158
0.33
-0.14
-0.32
0.60
-0.14
330
0.0174
0.36
-0.15
-0.40
0.52
-0.15
335
0.0182
0.38
-0.15
-0.49
0.42
-0.14
340
0.0180
0.37
-0.15
-0.58
0.34
-0.14
345
0.0168
0.35
-0.14
-0.67
0.27
-0.12
350
0.0149
0.31
-0.12
-0.75
0.20
-0.11
355
0.0127
0.27
-0.10
-0.81
0.15
-0.09
360
0.0105
0.23
-0.09
-0.86
0.12
-0.07
365
0.0084
0.19
-0.07
-0.91
0.09
-0.06
370
0.0066
0.15
-0.05
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.