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 — 270 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)MCD 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 ≈ 22.9% · 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
0.97
-0.01
240
0.0031
0.05
-0.03
-0.04
0.96
-0.03
245
0.0049
0.07
-0.04
-0.06
0.93
-0.04
250
0.0076
0.11
-0.05
-0.10
0.88
-0.06
255
0.0111
0.15
-0.07
-0.15
0.82
-0.08
260
0.0152
0.21
-0.09
-0.22
0.73
-0.10
265
0.0191
0.26
-0.11
-0.31
0.62
-0.12
270
0.0220
0.30
-0.12
-0.42
0.51
-0.12
275
0.0231
0.31
-0.12
-0.53
0.40
-0.12
280
0.0222
0.30
-0.11
-0.64
0.30
-0.11
285
0.0197
0.27
-0.10
-0.73
0.21
-0.09
290
0.0163
0.23
-0.08
-0.81
0.15
-0.07
295
0.0128
0.18
-0.06
-0.86
0.10
-0.06
300
0.0097
0.14
-0.05
-0.91
0.07
-0.04
305
0.0072
0.11
-0.04
-0.94
0.05
-0.03
310
0.0052
0.08
-0.03
-0.95
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 20 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.