■ 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 — 15 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)GRRR open contracts per strike for Fri, Sep 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 · Fri, Sep 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 91.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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 · Fri, Sep 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
1.00
-0.01
4
0.0020
0.00
-0.01
-0.01
1.00
-0.01
5
0.0043
0.00
-0.01
-0.01
0.99
-0.01
6
0.0085
0.00
-0.01
-0.01
0.95
-0.02
9
0.0390
0.00
-0.02
-0.06
0.91
-0.02
10
0.0652
0.00
-0.02
-0.10
0.84
-0.03
11
0.1095
0.01
-0.03
-0.17
0.71
-0.03
12
0.1690
0.01
-0.03
-0.29
0.52
-0.04
13
0.2021
0.01
-0.04
-0.48
0.34
-0.04
14
0.1756
0.01
-0.03
-0.66
0.27
-0.03
14.5
0.1530
0.01
-0.03
-0.72
0.22
-0.03
15
0.1311
0.01
-0.03
-0.77
0.15
-0.03
16
0.0952
0.01
-0.03
-0.84
0.11
-0.02
17
0.0701
0.00
-0.02
-0.88
0.08
-0.02
18
0.0529
0.00
-0.02
-0.91
0.06
-0.02
19
0.0408
0.00
-0.01
-0.93
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 19 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.