Event risk before this expiration:Jobs report Fri, Aug 7 · CPI release Wed, Aug 12 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 427.5 — is the max pain price.
Open interest by strike · Fri, Aug 14
■ calls (up)■ puts (down)DELL open contracts per strike for Fri, Aug 14.
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 14
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 14
— call IV— put IVATM ≈ 86.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 14
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 14
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.81
-0.96
415
0.0043
0.20
-0.97
-0.19
0.76
-1.10
425
0.0049
0.23
-1.11
-0.24
0.73
-1.17
430
0.0052
0.24
-1.18
-0.27
0.70
-1.23
435
0.0055
0.25
-1.23
-0.30
0.67
-1.28
440
0.0057
0.26
-1.29
-0.33
0.61
-1.36
450
0.0061
0.28
-1.37
-0.39
0.58
-1.39
455
0.0062
0.28
-1.40
-0.42
0.55
-1.41
460
0.0063
0.29
-1.42
-0.45
0.52
-1.42
465
0.0063
0.29
-1.43
-0.48
0.48
-1.42
470
0.0063
0.29
-1.43
-0.52
0.45
-1.41
475
0.0063
0.29
-1.42
-0.55
0.42
-1.40
480
0.0062
0.28
-1.40
-0.58
0.40
-1.37
485
0.0061
0.28
-1.37
-0.61
0.37
-1.34
490
0.0060
0.27
-1.34
-0.64
0.31
-1.26
500
0.0056
0.26
-1.26
-0.69
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.