■ 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 — 320 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)BURL open contracts per strike for Fri, Sep 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 42.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.04
280
0.0018
0.11
-0.06
-0.04
0.93
-0.07
290
0.0026
0.15
-0.09
-0.07
0.90
-0.10
300
0.0036
0.20
-0.12
-0.10
0.85
-0.14
310
0.0048
0.26
-0.15
-0.15
0.80
-0.17
320
0.0060
0.32
-0.18
-0.21
0.72
-0.21
330
0.0071
0.37
-0.22
-0.28
0.65
-0.23
340
0.0079
0.41
-0.24
-0.36
0.56
-0.25
350
0.0083
0.44
-0.26
-0.44
0.48
-0.26
360
0.0084
0.44
-0.26
-0.53
0.40
-0.25
370
0.0080
0.43
-0.25
-0.60
0.33
-0.24
380
0.0074
0.40
-0.24
-0.68
0.27
-0.22
390
0.0067
0.37
-0.22
-0.74
0.22
-0.20
400
0.0059
0.33
-0.19
-0.79
0.17
-0.18
410
0.0050
0.29
-0.17
-0.84
0.14
-0.15
420
0.0043
0.25
-0.14
-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 46 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.