■ 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 — 385 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)GLD open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 21.6% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.15
386
0.0128
0.05
-0.15
-0.06
0.92
-0.20
388
0.0171
0.06
-0.20
-0.08
0.88
-0.26
390
0.0225
0.07
-0.26
-0.12
0.81
-0.36
393
0.0326
0.10
-0.37
-0.19
0.74
-0.44
395
0.0396
0.12
-0.45
-0.26
0.66
-0.51
397
0.0456
0.14
-0.52
-0.35
0.56
-0.55
399
0.0491
0.15
-0.56
-0.44
0.51
-0.56
400
0.0497
0.15
-0.57
-0.49
0.41
-0.55
402
0.0483
0.14
-0.56
-0.59
0.28
-0.47
405
0.0412
0.13
-0.47
-0.73
0.13
-0.28
410
0.0249
0.08
-0.28
-0.88
0.10
-0.22
412
0.0193
0.07
-0.22
-0.91
0.08
-0.20
413
0.0169
0.06
-0.19
-0.93
0.06
-0.16
415
0.0130
0.05
-0.15
-0.95
0.03
-0.10
420
0.0071
0.03
-0.10
-0.98
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.