■ 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 — 399 — is the max pain price.
Open interest by strike · Wed, Aug 19
■ calls (up)■ puts (down)GLD open contracts per strike for Wed, Aug 19.
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 · Wed, Aug 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Aug 19
— call IV— put IVATM ≈ 21.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Aug 19
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 · Wed, Aug 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.23
393
0.0286
0.04
-0.23
-0.09
0.89
-0.29
394
0.0354
0.04
-0.29
-0.11
0.85
-0.39
395
0.0436
0.05
-0.39
-0.14
0.81
-0.52
396
0.0529
0.06
-0.52
-0.19
0.76
-0.68
397
0.0627
0.07
-0.68
-0.24
0.70
-0.88
398
0.0718
0.08
-0.88
-0.30
0.62
-1.07
399
0.0790
0.09
-1.07
-0.38
0.54
-1.19
400
0.0830
0.09
-1.19
-0.46
0.46
-1.19
401
0.0829
0.09
-1.19
-0.54
0.38
-1.06
402
0.0790
0.09
-1.06
-0.62
0.30
-0.87
403
0.0719
0.08
-0.88
-0.70
0.24
-0.68
404
0.0630
0.07
-0.68
-0.76
0.19
-0.51
405
0.0534
0.06
-0.52
-0.81
0.15
-0.38
406
0.0442
0.05
-0.39
-0.86
0.11
-0.29
407
0.0360
0.04
-0.30
-0.89
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.