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 — 540 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)LMT 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 ≈ 25.1% · 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
0.89
-0.18
545
0.0060
0.23
-0.19
-0.11
0.86
-0.22
550
0.0072
0.27
-0.23
-0.14
0.82
-0.26
555
0.0085
0.32
-0.27
-0.18
0.77
-0.29
560
0.0098
0.36
-0.30
-0.23
0.72
-0.33
565
0.0111
0.40
-0.34
-0.28
0.66
-0.36
570
0.0121
0.43
-0.37
-0.34
0.60
-0.38
575
0.0129
0.46
-0.39
-0.40
0.53
-0.39
580
0.0133
0.47
-0.40
-0.47
0.47
-0.39
585
0.0134
0.47
-0.40
-0.54
0.40
-0.38
590
0.0130
0.46
-0.38
-0.60
0.34
-0.36
595
0.0123
0.44
-0.36
-0.67
0.28
-0.33
600
0.0113
0.40
-0.34
-0.73
0.23
-0.30
605
0.0102
0.37
-0.30
-0.78
0.19
-0.27
610
0.0089
0.33
-0.27
-0.82
0.16
-0.24
615
0.0077
0.29
-0.24
-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 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.