Event risk before this expiration:Jobs report Fri, Aug 7 · CPI release Wed, Aug 12 · Jobs report Fri, Sep 4 — 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 — 11.5 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)MARA open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 94.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.88
-0.01
8
0.0508
0.01
-0.01
-0.12
0.85
-0.01
8.5
0.0622
0.01
-0.01
-0.15
0.81
-0.01
9
0.0741
0.01
-0.01
-0.19
0.76
-0.02
9.5
0.0856
0.01
-0.02
-0.24
0.71
-0.02
10
0.0960
0.01
-0.02
-0.29
0.66
-0.02
10.5
0.1046
0.01
-0.02
-0.34
0.60
-0.02
11
0.1109
0.01
-0.02
-0.40
0.54
-0.02
11.5
0.1145
0.01
-0.02
-0.46
0.49
-0.02
12
0.1154
0.01
-0.02
-0.51
0.43
-0.02
12.5
0.1139
0.01
-0.02
-0.57
0.39
-0.02
13
0.1105
0.01
-0.02
-0.62
0.34
-0.02
13.5
0.1055
0.01
-0.02
-0.66
0.30
-0.02
14
0.0995
0.01
-0.02
-0.70
0.26
-0.02
14.5
0.0929
0.01
-0.02
-0.74
0.23
-0.01
15
0.0860
0.01
-0.01
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 32 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.