■ 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 — 31 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)BVN open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 65.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.03
28
0.0230
0.01
-0.03
-0.06
0.93
-0.03
29
0.0305
0.01
-0.03
-0.07
0.90
-0.04
30
0.0411
0.01
-0.04
-0.10
0.87
-0.04
31
0.0562
0.01
-0.04
-0.13
0.81
-0.05
32
0.0767
0.02
-0.05
-0.19
0.73
-0.05
33
0.1003
0.02
-0.06
-0.27
0.62
-0.06
34
0.1172
0.02
-0.06
-0.38
0.50
-0.07
35
0.1175
0.02
-0.07
-0.50
0.40
-0.07
36
0.1053
0.02
-0.07
-0.60
0.32
-0.07
37
0.0897
0.02
-0.07
-0.68
0.26
-0.07
38
0.0754
0.02
-0.07
-0.74
0.22
-0.07
39
0.0634
0.02
-0.07
-0.78
0.16
-0.06
41
0.0457
0.01
-0.06
-0.84
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 17 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.