■ 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 — 538 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)DIA 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 ≈ 12.5% · 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
0.76
-0.10
519
0.0130
0.55
-0.10
-0.26
0.75
-0.10
520
0.0134
0.56
-0.10
-0.27
0.72
-0.10
522
0.0143
0.59
-0.11
-0.29
0.68
-0.11
525
0.0156
0.62
-0.11
-0.33
0.67
-0.11
526
0.0160
0.63
-0.11
-0.35
0.60
-0.11
530
0.0175
0.67
-0.11
-0.41
0.56
-0.11
532.5
0.0182
0.69
-0.11
-0.46
0.51
-0.11
535
0.0187
0.69
-0.11
-0.50
0.49
-0.11
536
0.0188
0.69
-0.11
-0.52
0.48
-0.11
537
0.0189
0.69
-0.11
-0.54
0.46
-0.11
538
0.0189
0.69
-0.11
-0.56
0.44
-0.11
539
0.0189
0.68
-0.11
-0.58
0.42
-0.11
540
0.0188
0.68
-0.10
-0.60
0.34
-0.10
544
0.0180
0.64
-0.10
-0.67
0.31
-0.09
546
0.0173
0.62
-0.09
-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.