■ 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 — 2950 — is the max pain price.
Open interest by strike · Fri, Sep 17
■ calls (up)■ puts (down)AZO open contracts per strike for Fri, Sep 17.
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 17
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 17
— call IV— put IVATM ≈ 34.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 17
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 17
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
—
1460
0.0001
2.24
-0.13
-0.03
0.96
—
1540
0.0001
2.62
-0.14
-0.04
0.94
-0.04
1740
0.0001
3.72
-0.20
-0.06
0.79
-0.32
2440
0.0003
8.74
-0.42
-0.22
0.62
-0.47
2950
0.0004
11.52
-0.54
-0.41
0.60
-0.47
3000
0.0004
11.66
-0.54
-0.43
0.56
-0.49
3100
0.0004
11.89
-0.55
-0.47
0.49
-0.50
3300
0.0004
12.04
-0.56
-0.55
0.37
-0.48
3700
0.0004
11.41
-0.54
-0.70
0.34
-0.47
3800
0.0004
11.11
-0.53
-0.73
0.33
-0.47
3850
0.0003
10.95
-0.52
-0.75
0.32
-0.46
3900
0.0003
10.78
-0.52
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 strikes around the money — all 24 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.