■ 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 — 18 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)BOIL open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 56.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.01
17
0.0616
0.01
-0.01
-0.09
0.88
-0.02
17.5
0.0783
0.01
-0.02
-0.12
0.84
-0.02
18
0.0981
0.01
-0.02
-0.16
0.79
-0.02
18.5
0.1200
0.01
-0.02
-0.21
0.72
-0.03
19
0.1413
0.01
-0.03
-0.28
0.65
-0.03
19.5
0.1588
0.02
-0.03
-0.35
0.56
-0.03
20
0.1689
0.02
-0.03
-0.44
0.48
-0.03
20.5
0.1699
0.02
-0.03
-0.52
0.40
-0.03
21
0.1625
0.02
-0.03
-0.60
0.33
-0.03
21.5
0.1491
0.01
-0.03
-0.67
0.27
-0.03
22
0.1326
0.01
-0.03
-0.73
0.22
-0.02
22.5
0.1153
0.01
-0.02
-0.78
0.17
-0.02
23
0.0989
0.01
-0.02
-0.82
0.14
-0.02
23.5
0.0841
0.01
-0.02
-0.85
0.12
-0.02
24
0.0712
0.01
-0.02
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 27 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.