■ 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 — 460 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)DELL 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 ≈ 92.3% · 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
0.67
-0.66
425
0.0026
0.53
-0.67
-0.33
0.66
-0.67
430
0.0027
0.54
-0.68
-0.34
0.65
-0.68
435
0.0027
0.55
-0.69
-0.36
0.63
-0.69
440
0.0028
0.56
-0.70
-0.37
0.62
-0.70
445
0.0028
0.56
-0.70
-0.39
0.60
-0.71
450
0.0028
0.57
-0.71
-0.40
0.59
-0.71
455
0.0028
0.57
-0.72
-0.41
0.57
-0.72
460
0.0029
0.58
-0.72
-0.43
0.56
-0.72
465
0.0029
0.58
-0.73
-0.44
0.54
-0.73
470
0.0029
0.58
-0.73
-0.46
0.53
-0.73
475
0.0029
0.59
-0.73
-0.47
0.52
-0.73
480
0.0029
0.59
-0.74
-0.49
0.50
-0.73
485
0.0029
0.59
-0.74
-0.50
0.49
-0.73
490
0.0029
0.59
-0.74
-0.51
0.47
-0.73
495
0.0029
0.59
-0.73
-0.53
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.