■ 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 — 537.5 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)LMT 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 ≈ 29.2% · 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
0.90
-0.39
505
0.0123
0.09
-0.39
-0.10
0.87
-0.48
507.5
0.0151
0.10
-0.49
-0.14
0.83
-0.59
510
0.0182
0.12
-0.59
-0.17
0.78
-0.69
512.5
0.0213
0.14
-0.70
-0.22
0.72
-0.80
515
0.0243
0.16
-0.81
-0.28
0.66
-0.88
517.5
0.0268
0.17
-0.89
-0.34
0.59
-0.94
520
0.0286
0.19
-0.96
-0.41
0.52
-0.97
522.5
0.0294
0.19
-0.98
-0.49
0.45
-0.96
525
0.0291
0.19
-0.98
-0.56
0.38
-0.92
527.5
0.0278
0.18
-0.93
-0.63
0.31
-0.85
530
0.0256
0.17
-0.86
-0.70
0.25
-0.76
532.5
0.0229
0.15
-0.77
-0.75
0.20
-0.67
535
0.0200
0.14
-0.67
-0.80
0.16
-0.57
537.5
0.0171
0.12
-0.58
-0.84
0.13
-0.49
540
0.0144
0.10
-0.49
-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 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.