■ 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 — 45 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)CNQ open contracts per strike for Fri, Aug 28.
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 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 26.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.02
45.5
0.0553
0.01
-0.02
-0.10
0.88
-0.03
46
0.0672
0.02
-0.03
-0.12
0.85
-0.03
46.5
0.0816
0.02
-0.03
-0.15
0.81
-0.03
47
0.0986
0.02
-0.03
-0.19
0.71
-0.04
48
0.1371
0.03
-0.04
-0.29
0.64
-0.04
48.5
0.1541
0.03
-0.04
-0.36
0.56
-0.04
49
0.1649
0.03
-0.04
-0.44
0.48
-0.04
49.5
0.1664
0.03
-0.04
-0.53
0.40
-0.04
50
0.1589
0.03
-0.04
-0.60
0.27
-0.04
51
0.1277
0.03
-0.04
-0.73
0.18
-0.03
52
0.0943
0.02
-0.03
-0.82
0.06
-0.02
55
0.0357
0.01
-0.02
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 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.