■ 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 — 14.5 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)F open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 39.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.00
12
0.0616
0.01
-0.01
-0.09
0.86
-0.01
13
0.1226
0.01
-0.01
-0.17
0.79
-0.01
13.5
0.1580
0.01
-0.01
-0.23
0.71
-0.01
14
0.1890
0.02
-0.01
-0.31
0.61
-0.01
14.5
0.2082
0.02
-0.01
-0.40
0.50
-0.01
15
0.2118
0.02
-0.01
-0.51
0.40
-0.01
15.5
0.2007
0.02
-0.01
-0.61
0.31
-0.01
16
0.1798
0.02
-0.01
-0.69
0.24
-0.01
16.5
0.1544
0.01
-0.01
-0.76
0.19
-0.01
17
0.1293
0.01
-0.01
-0.82
0.15
-0.01
17.5
0.1068
0.01
-0.01
-0.86
0.12
-0.01
18
0.0877
0.01
-0.01
-0.89
0.02
-0.00
23
0.0154
0.00
-0.00
-0.99
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 17 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 history
History starts accruing now: first snapshot taken 2026-07-28. We chart only days we actually observed — check back as the record builds. The measured hit-rate across all tickers lives on the accuracy ledger.
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.