■ 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 — 96 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)CRH 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 ≈ 33.7% · 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
0.96
-0.03
75
0.0059
0.02
-0.03
-0.04
0.94
-0.04
80
0.0105
0.03
-0.04
-0.06
0.89
-0.05
85
0.0194
0.04
-0.05
-0.12
0.87
-0.05
86
0.0219
0.04
-0.06
-0.13
0.62
-0.07
94
0.0531
0.08
-0.08
-0.39
0.57
-0.08
95
0.0564
0.08
-0.08
-0.44
0.51
-0.07
96
0.0584
0.09
-0.08
-0.50
0.45
-0.07
97
0.0589
0.09
-0.07
-0.56
0.39
-0.07
98
0.0577
0.08
-0.07
-0.62
0.34
-0.07
99
0.0549
0.08
-0.07
-0.68
0.29
-0.06
100
0.0510
0.07
-0.07
-0.73
0.24
-0.06
101
0.0463
0.07
-0.06
-0.78
0.21
-0.05
102
0.0415
0.06
-0.06
-0.81
0.15
-0.04
104
0.0324
0.05
-0.05
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 19 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.