■ 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 — 152.5 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)EMR open contracts per strike for Fri, Aug 28.
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 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 24.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.92
-0.07
147
0.0117
0.05
-0.07
-0.09
0.90
-0.08
150
0.0153
0.06
-0.08
-0.11
0.87
-0.09
152.5
0.0195
0.07
-0.08
-0.13
0.83
-0.09
155
0.0251
0.08
-0.09
-0.17
0.78
-0.10
157.5
0.0326
0.10
-0.10
-0.22
0.70
-0.10
160
0.0416
0.11
-0.10
-0.30
0.59
-0.11
162.5
0.0498
0.13
-0.11
-0.41
0.47
-0.11
165
0.0516
0.13
-0.11
-0.53
0.35
-0.11
167.5
0.0458
0.12
-0.11
-0.65
0.27
-0.10
170
0.0374
0.11
-0.10
-0.73
0.21
-0.10
172.5
0.0298
0.09
-0.10
-0.79
0.16
-0.09
175
0.0238
0.08
-0.09
-0.83
0.05
-0.05
195
0.0059
0.03
-0.05
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 21 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.