■ 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 — 407 — is the max pain price.
Open interest by strike · Tue, Aug 25
■ calls (up)■ puts (down)GLD open contracts per strike for Tue, Aug 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 · Tue, Aug 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Tue, Aug 25
— call IV— put IVATM ≈ 19.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Tue, Aug 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 · Tue, Aug 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.22
390
0.0265
0.16
-0.23
-0.21
0.76
-0.24
391
0.0286
0.17
-0.24
-0.24
0.73
-0.25
392
0.0306
0.18
-0.26
-0.27
0.70
-0.27
393
0.0324
0.19
-0.27
-0.30
0.67
-0.28
394
0.0340
0.20
-0.28
-0.33
0.64
-0.29
395
0.0354
0.21
-0.29
-0.37
0.60
-0.30
396
0.0365
0.21
-0.30
-0.40
0.53
-0.31
398
0.0377
0.22
-0.31
-0.48
0.45
-0.31
400
0.0373
0.22
-0.31
-0.55
0.31
-0.28
404
0.0328
0.20
-0.28
-0.69
0.28
-0.27
405
0.0312
0.19
-0.27
-0.72
0.25
-0.25
406
0.0293
0.18
-0.26
-0.75
0.23
-0.24
407
0.0274
0.17
-0.24
-0.78
0.20
-0.22
408
0.0255
0.16
-0.23
-0.80
0.18
-0.21
409
0.0236
0.15
-0.22
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 22 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.