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 — 390 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)DELL open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 83.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.82
-0.66
400
0.0032
0.25
-0.67
-0.18
0.78
-0.74
410
0.0036
0.28
-0.75
-0.22
0.74
-0.82
420
0.0040
0.31
-0.83
-0.26
0.70
-0.89
430
0.0043
0.34
-0.90
-0.30
0.67
-0.92
435
0.0044
0.35
-0.92
-0.33
0.65
-0.94
440
0.0046
0.36
-0.95
-0.35
0.60
-0.99
450
0.0047
0.37
-0.99
-0.40
0.55
-1.01
460
0.0049
0.38
-1.02
-0.45
0.50
-1.02
470
0.0049
0.39
-1.02
-0.50
0.48
-1.02
475
0.0049
0.39
-1.02
-0.52
0.46
-1.01
480
0.0049
0.39
-1.02
-0.55
0.41
-1.00
490
0.0048
0.38
-1.00
-0.59
0.37
-0.96
500
0.0046
0.36
-0.96
-0.64
0.33
-0.92
510
0.0044
0.35
-0.92
-0.68
0.29
-0.87
520
0.0042
0.33
-0.87
-0.71
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.