■ 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 — 570 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)DELL 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 ≈ 55.5% · 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
0.73
-1.05
545
0.0076
0.26
-1.05
-0.27
0.69
-1.12
550
0.0081
0.28
-1.13
-0.31
0.67
-1.16
552.5
0.0084
0.29
-1.16
-0.34
0.64
-1.19
555
0.0086
0.29
-1.19
-0.36
0.60
-1.23
560
0.0089
0.30
-1.24
-0.40
0.56
-1.26
565
0.0091
0.31
-1.27
-0.45
0.53
-1.27
567.5
0.0092
0.31
-1.28
-0.47
0.51
-1.28
570
0.0092
0.32
-1.28
-0.49
0.46
-1.27
575
0.0091
0.31
-1.28
-0.54
0.44
-1.26
577.5
0.0091
0.31
-1.27
-0.56
0.42
-1.25
580
0.0090
0.31
-1.26
-0.58
0.38
-1.21
585
0.0087
0.30
-1.22
-0.63
0.34
-1.16
590
0.0083
0.29
-1.17
-0.67
0.30
-1.10
595
0.0079
0.27
-1.10
-0.71
0.26
-1.03
600
0.0074
0.26
-1.03
-0.74
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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.