Event risk before this expiration:Jobs report Fri, Aug 7 · CPI release Wed, Aug 12 · Jobs report Fri, Sep 4 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 29 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)CCL 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 ≈ 39.9% · 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
0.98
-0.01
22
0.0296
0.00
-0.01
-0.03
0.96
-0.00
23
0.0327
0.01
-0.01
-0.05
0.93
-0.01
24
0.0364
0.01
-0.01
-0.07
0.89
-0.01
25
0.0546
0.02
-0.01
-0.11
0.82
-0.01
26
0.0773
0.02
-0.01
-0.18
0.73
-0.02
27
0.0989
0.03
-0.02
-0.28
0.61
-0.02
28
0.1139
0.03
-0.02
-0.39
0.50
-0.02
29
0.1194
0.03
-0.02
-0.51
0.38
-0.02
30
0.1146
0.03
-0.02
-0.63
0.28
-0.02
31
0.1013
0.03
-0.02
-0.73
0.20
-0.02
32
0.0832
0.02
-0.01
-0.81
0.14
-0.01
33
0.0644
0.02
-0.01
-0.88
0.09
-0.01
34
0.0480
0.01
-0.01
-0.93
0.06
-0.01
35
0.0354
0.01
-0.01
-0.95
0.05
-0.01
36
0.0267
0.01
-0.00
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 23 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.