Event risk before this expiration:Jobs report Fri, Aug 7 · CPI release Wed, Aug 12 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 257.5 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)JNJ open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 24.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.08
240
0.0131
0.13
-0.08
-0.13
0.84
-0.09
242.5
0.0157
0.15
-0.09
-0.16
0.80
-0.10
245
0.0183
0.18
-0.10
-0.21
0.75
-0.12
247.5
0.0208
0.20
-0.12
-0.26
0.69
-0.13
250
0.0231
0.22
-0.13
-0.31
0.63
-0.14
252.5
0.0250
0.23
-0.14
-0.37
0.57
-0.14
255
0.0263
0.24
-0.14
-0.44
0.50
-0.14
257.5
0.0268
0.25
-0.14
-0.51
0.43
-0.14
260
0.0266
0.24
-0.14
-0.57
0.37
-0.13
262.5
0.0255
0.23
-0.14
-0.64
0.31
-0.13
265
0.0238
0.22
-0.13
-0.70
0.26
-0.11
267.5
0.0217
0.20
-0.12
-0.76
0.21
-0.10
270
0.0192
0.18
-0.11
-0.81
0.17
-0.09
272.5
0.0167
0.16
-0.10
-0.85
0.14
-0.08
275
0.0143
0.14
-0.08
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 50 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.