■ 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 — 325 — is the max pain price.
Open interest by strike · Wed, Aug 5
■ calls (up)■ puts (down)GOOGL open contracts per strike for Wed, Aug 5.
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 5
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Aug 5
— call IV— put IVATM ≈ 31.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Aug 5
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 5
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.85
-0.24
317.5
0.0139
0.12
-0.25
-0.15
0.81
-0.28
320
0.0162
0.14
-0.28
-0.19
0.77
-0.32
322.5
0.0184
0.15
-0.32
-0.23
0.72
-0.35
325
0.0204
0.17
-0.35
-0.28
0.67
-0.38
327.5
0.0222
0.18
-0.38
-0.34
0.61
-0.40
330
0.0236
0.19
-0.40
-0.39
0.55
-0.41
332.5
0.0244
0.20
-0.41
-0.45
0.49
-0.41
335
0.0247
0.20
-0.41
-0.52
0.42
-0.40
337.5
0.0243
0.19
-0.41
-0.58
0.37
-0.39
340
0.0234
0.19
-0.39
-0.64
0.31
-0.36
342.5
0.0220
0.17
-0.36
-0.69
0.26
-0.33
345
0.0201
0.16
-0.33
-0.74
0.21
-0.29
347.5
0.0181
0.15
-0.30
-0.79
0.18
-0.26
350
0.0159
0.13
-0.27
-0.83
0.14
-0.23
352.5
0.0138
0.11
-0.23
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 59 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.