■ 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 — 133 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)C open contracts per strike for Fri, Sep 25.
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 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 30.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
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 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.07
128
0.0264
0.02
-0.07
-0.07
0.91
-0.09
129
0.0347
0.02
-0.09
-0.09
0.87
-0.12
130
0.0448
0.03
-0.12
-0.13
0.82
-0.15
131
0.0562
0.04
-0.15
-0.18
0.76
-0.18
132
0.0679
0.04
-0.18
-0.24
0.69
-0.21
133
0.0786
0.05
-0.21
-0.31
0.61
-0.22
134
0.0867
0.06
-0.23
-0.39
0.52
-0.23
135
0.0909
0.06
-0.23
-0.48
0.43
-0.23
136
0.0903
0.06
-0.23
-0.57
0.34
-0.21
137
0.0849
0.05
-0.21
-0.66
0.26
-0.18
138
0.0756
0.05
-0.18
-0.74
0.19
-0.15
139
0.0638
0.04
-0.15
-0.81
0.14
-0.11
140
0.0511
0.03
-0.11
-0.87
0.09
-0.08
141
0.0390
0.02
-0.08
-0.91
0.06
-0.06
142
0.0285
0.02
-0.06
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 43 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.