■ 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 — 40 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)B 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 ≈ 42.2% · 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
0.89
-0.03
38.5
0.0596
0.01
-0.03
-0.11
0.86
-0.03
39
0.0726
0.02
-0.03
-0.14
0.82
-0.04
39.5
0.0867
0.02
-0.04
-0.18
0.77
-0.04
40
0.1009
0.02
-0.04
-0.23
0.72
-0.05
40.5
0.1140
0.02
-0.05
-0.28
0.66
-0.05
41
0.1248
0.03
-0.06
-0.34
0.59
-0.06
41.5
0.1320
0.03
-0.06
-0.41
0.53
-0.06
42
0.1350
0.03
-0.06
-0.47
0.46
-0.06
42.5
0.1336
0.03
-0.06
-0.54
0.40
-0.06
43
0.1284
0.03
-0.06
-0.61
0.28
-0.05
44
0.1100
0.02
-0.05
-0.72
0.20
-0.04
45
0.0875
0.02
-0.04
-0.80
0.14
-0.04
46
0.0665
0.01
-0.04
-0.86
0.10
-0.03
47
0.0492
0.01
-0.03
-0.91
0.07
-0.02
48
0.0360
0.01
-0.02
-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 29 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.