■ 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 — 275 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)CME 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 ≈ 21.9% · 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
0.95
-0.08
257.5
0.0091
0.04
-0.08
-0.05
0.93
-0.10
260
0.0122
0.05
-0.10
-0.07
0.90
-0.13
262.5
0.0162
0.07
-0.13
-0.10
0.86
-0.15
265
0.0215
0.09
-0.15
-0.14
0.81
-0.18
267.5
0.0280
0.10
-0.18
-0.19
0.74
-0.21
270
0.0352
0.12
-0.21
-0.26
0.65
-0.24
272.5
0.0420
0.14
-0.24
-0.35
0.54
-0.25
275
0.0465
0.15
-0.25
-0.46
0.42
-0.24
277.5
0.0466
0.15
-0.24
-0.58
0.31
-0.22
280
0.0423
0.14
-0.22
-0.69
0.22
-0.18
282.5
0.0350
0.12
-0.18
-0.78
0.15
-0.14
285
0.0270
0.09
-0.14
-0.85
0.10
-0.11
287.5
0.0200
0.07
-0.11
-0.90
0.07
-0.08
290
0.0145
0.05
-0.09
-0.93
0.05
-0.06
292.5
0.0104
0.04
-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 53 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.