■ 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, Sep 11
■ calls (up)■ puts (down)BA open contracts per strike for Fri, Sep 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 11
— call IV— put IVATM ≈ 27.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.06
195
0.0111
0.07
-0.06
-0.08
0.89
-0.07
197.5
0.0143
0.08
-0.07
-0.11
0.85
-0.09
200
0.0181
0.10
-0.09
-0.15
0.81
-0.10
202.5
0.0222
0.12
-0.11
-0.20
0.74
-0.12
205
0.0262
0.14
-0.12
-0.26
0.67
-0.14
207.5
0.0296
0.16
-0.14
-0.33
0.60
-0.15
210
0.0319
0.17
-0.15
-0.41
0.52
-0.15
212.5
0.0329
0.18
-0.15
-0.49
0.43
-0.15
215
0.0325
0.17
-0.15
-0.57
0.36
-0.14
217.5
0.0308
0.17
-0.14
-0.65
0.29
-0.13
220
0.0280
0.15
-0.13
-0.73
0.22
-0.11
222.5
0.0246
0.13
-0.12
-0.79
0.17
-0.10
225
0.0208
0.11
-0.10
-0.84
0.13
-0.08
227.5
0.0170
0.10
-0.08
-0.89
0.10
-0.06
230
0.0136
0.08
-0.07
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.