■ 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 — 89 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)DAL open contracts per strike for Fri, Sep 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 11
— call IV— put IVATM ≈ 34.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-0.03
82
0.0206
0.07
-0.03
-0.14
0.84
-0.03
83
0.0230
0.07
-0.04
-0.16
0.78
-0.04
85
0.0276
0.09
-0.04
-0.22
0.75
-0.04
86
0.0298
0.09
-0.05
-0.25
0.72
-0.05
87
0.0318
0.10
-0.05
-0.28
0.65
-0.05
89
0.0352
0.11
-0.05
-0.35
0.62
-0.05
90
0.0365
0.11
-0.06
-0.39
0.58
-0.06
91
0.0375
0.11
-0.06
-0.43
0.50
-0.06
93
0.0384
0.12
-0.06
-0.50
0.46
-0.06
94
0.0384
0.12
-0.06
-0.54
0.43
-0.06
95
0.0380
0.11
-0.06
-0.58
0.39
-0.05
96
0.0372
0.11
-0.05
-0.62
0.35
-0.05
97
0.0362
0.11
-0.05
-0.66
0.32
-0.05
98
0.0349
0.10
-0.05
-0.69
0.26
-0.04
100
0.0316
0.09
-0.04
-0.76
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.