■ 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 — 215 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)BA 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 ≈ 31.3% · 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
0.99
-0.01
195
0.0028
0.00
-0.02
-0.01
0.99
-0.03
197.5
0.0046
0.01
-0.03
-0.01
0.98
-0.04
200
0.0081
0.01
-0.04
-0.02
0.96
-0.08
202.5
0.0151
0.01
-0.08
-0.04
0.92
-0.17
205
0.0287
0.03
-0.17
-0.08
0.83
-0.32
207.5
0.0499
0.04
-0.32
-0.17
0.68
-0.49
210
0.0721
0.06
-0.50
-0.33
0.48
-0.57
212.5
0.0805
0.06
-0.58
-0.52
0.30
-0.47
215
0.0689
0.06
-0.48
-0.71
0.16
-0.29
217.5
0.0471
0.04
-0.29
-0.85
0.08
-0.15
220
0.0276
0.02
-0.15
-0.93
0.04
-0.08
222.5
0.0150
0.01
-0.07
-0.97
0.02
-0.04
225
0.0081
0.01
-0.05
-0.99
0.01
-0.02
227.5
0.0046
0.01
-0.04
-0.99
0.01
-0.01
230
0.0028
0.00
-0.04
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 49 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.