■ 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, Oct 2
■ calls (up)■ puts (down)B open contracts per strike for Fri, Oct 2.
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, Oct 2
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Oct 2
— call IV— put IVATM ≈ 42.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Oct 2
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, Oct 2
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.01
34
0.0227
0.02
-0.01
-0.07
0.90
-0.01
35
0.0290
0.03
-0.01
-0.10
0.87
-0.01
36
0.0356
0.03
-0.01
-0.14
0.77
-0.02
38
0.0486
0.04
-0.02
-0.23
0.72
-0.02
39
0.0542
0.05
-0.02
-0.28
0.66
-0.03
40
0.0586
0.05
-0.03
-0.34
0.59
-0.03
41
0.0614
0.06
-0.03
-0.41
0.53
-0.03
42
0.0626
0.06
-0.03
-0.47
0.47
-0.03
43
0.0622
0.06
-0.03
-0.53
0.41
-0.03
44
0.0603
0.06
-0.03
-0.59
0.36
-0.03
45
0.0573
0.06
-0.03
-0.64
0.31
-0.03
46
0.0536
0.05
-0.03
-0.69
0.23
-0.02
48
0.0448
0.04
-0.02
-0.78
0.19
-0.02
49
0.0403
0.04
-0.02
-0.81
0.14
-0.02
51
0.0319
0.03
-0.02
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.