■ 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 — 293 — is the max pain price.
Open interest by strike · Thu, Aug 6
■ calls (up)■ puts (down)IWM open contracts per strike for Thu, Aug 6.
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 · Thu, Aug 6
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Aug 6
— call IV— put IVATM ≈ 21.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Aug 6
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 · Thu, Aug 6
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.76
-0.19
286
0.0276
0.14
-0.19
-0.24
0.74
-0.20
287
0.0296
0.15
-0.20
-0.26
0.71
-0.21
288
0.0317
0.16
-0.21
-0.29
0.68
-0.21
289
0.0338
0.17
-0.21
-0.32
0.65
-0.22
290
0.0358
0.17
-0.22
-0.35
0.61
-0.22
291
0.0376
0.18
-0.22
-0.39
0.57
-0.22
292
0.0393
0.18
-0.22
-0.43
0.54
-0.22
293
0.0408
0.18
-0.22
-0.47
0.49
-0.21
294
0.0419
0.18
-0.22
-0.51
0.45
-0.21
295
0.0426
0.18
-0.21
-0.55
0.41
-0.20
296
0.0428
0.18
-0.20
-0.60
0.36
-0.19
297
0.0424
0.17
-0.19
-0.64
0.32
-0.17
298
0.0413
0.17
-0.17
-0.69
0.27
-0.16
299
0.0394
0.15
-0.16
-0.73
0.23
-0.14
300
0.0369
0.14
-0.14
-0.78
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 47 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.