■ 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 — 255 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)MCD 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 ≈ 22.6% · 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
0.97
-0.03
232.5
0.0069
0.02
-0.03
-0.03
0.96
-0.05
235
0.0112
0.03
-0.05
-0.04
0.92
-0.08
237.5
0.0180
0.05
-0.08
-0.08
0.87
-0.12
240
0.0269
0.07
-0.12
-0.13
0.79
-0.16
242.5
0.0368
0.10
-0.17
-0.21
0.68
-0.20
245
0.0454
0.12
-0.21
-0.32
0.56
-0.23
247.5
0.0504
0.14
-0.23
-0.44
0.44
-0.23
250
0.0503
0.14
-0.23
-0.57
0.32
-0.20
252.5
0.0453
0.12
-0.21
-0.69
0.22
-0.17
255
0.0371
0.10
-0.17
-0.79
0.15
-0.13
257.5
0.0282
0.08
-0.13
-0.87
0.10
-0.10
260
0.0202
0.06
-0.10
-0.92
0.06
-0.07
262.5
0.0139
0.04
-0.07
-0.95
0.04
-0.05
265
0.0095
0.03
-0.04
-0.97
0.03
-0.03
267.5
0.0064
0.02
-0.03
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.