■ 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 — 80 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)DAL 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 ≈ 40.1% · 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
0.96
-0.03
76
0.0209
0.01
-0.03
-0.04
0.94
-0.05
77
0.0314
0.01
-0.05
-0.06
0.91
-0.07
78
0.0461
0.01
-0.07
-0.10
0.85
-0.10
79
0.0644
0.02
-0.10
-0.15
0.78
-0.13
80
0.0841
0.03
-0.13
-0.22
0.69
-0.16
81
0.1015
0.03
-0.16
-0.32
0.58
-0.18
82
0.1126
0.03
-0.18
-0.43
0.46
-0.18
83
0.1143
0.03
-0.18
-0.54
0.35
-0.17
84
0.1065
0.03
-0.17
-0.65
0.26
-0.14
85
0.0919
0.03
-0.15
-0.75
0.18
-0.12
86
0.0740
0.02
-0.12
-0.83
0.12
-0.09
87
0.0560
0.02
-0.09
-0.89
0.08
-0.06
88
0.0403
0.01
-0.06
-0.93
0.05
-0.04
89
0.0282
0.01
-0.04
-0.96
0.03
-0.03
90
0.0195
0.01
-0.03
-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 44 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.