■ 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 28
■ calls (up)■ puts (down)GLD 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 ≈ 21.4% · 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
0.73
-0.24
392
0.0230
0.22
-0.24
-0.28
0.70
-0.25
393
0.0240
0.23
-0.25
-0.30
0.68
-0.26
394
0.0249
0.24
-0.26
-0.33
0.65
-0.27
395
0.0257
0.25
-0.27
-0.35
0.60
-0.28
397
0.0270
0.26
-0.28
-0.40
0.57
-0.28
398
0.0274
0.26
-0.29
-0.43
0.55
-0.29
399
0.0277
0.26
-0.29
-0.46
0.52
-0.29
400
0.0279
0.27
-0.29
-0.49
0.49
-0.29
401
0.0279
0.27
-0.29
-0.52
0.46
-0.29
402
0.0277
0.26
-0.29
-0.54
0.44
-0.28
403
0.0274
0.26
-0.29
-0.57
0.41
-0.28
404
0.0270
0.26
-0.29
-0.60
0.38
-0.28
405
0.0264
0.25
-0.28
-0.62
0.36
-0.27
406
0.0258
0.25
-0.28
-0.65
0.31
-0.26
408
0.0242
0.23
-0.26
-0.70
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.