■ 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 — 690 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)MDY 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 ≈ 12.7% · 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
0.99
-0.05
680
0.0020
0.03
-0.05
-0.01
0.98
-0.07
685
0.0032
0.04
-0.08
-0.02
0.96
-0.12
690
0.0053
0.06
-0.12
-0.04
0.94
-0.18
695
0.0086
0.09
-0.18
-0.06
0.90
-0.27
700
0.0138
0.14
-0.27
-0.10
0.83
-0.38
705
0.0212
0.20
-0.39
-0.18
0.71
-0.50
710
0.0303
0.26
-0.51
-0.29
0.55
-0.56
715
0.0374
0.30
-0.57
-0.46
0.36
-0.49
720
0.0369
0.28
-0.51
-0.66
0.19
-0.34
725
0.0275
0.21
-0.34
-0.83
0.09
-0.18
730
0.0158
0.13
-0.18
-0.94
0.01
-0.04
740
0.0035
0.03
-0.08
-1.00
0.00
-0.01
750
0.0007
0.01
-0.08
-1.00
0.00
-0.00
755
0.0003
0.00
-0.08
-1.00
0.00
0.00
770
—
0.00
-0.08
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.