■ 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 — 637.5 — is the max pain price.
Open interest by strike · Wed, Sep 16
■ calls (up)■ puts (down)META open contracts per strike for Wed, Sep 16.
Open-interest change · 2026-09-10 → 2026-09-11
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot — where the walls are building and where they’re unwinding. Biggest moves: 587.5 +2K · 650 +769 · 700 +617 · 655 +605
Volume by strike · Wed, Sep 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Sep 16
— call IV— put IVATM ≈ 33.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Sep 16
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 · Wed, Sep 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.77
-0.81
630
0.0118
0.23
-0.81
-0.23
0.73
-0.87
632.5
0.0126
0.25
-0.87
-0.27
0.70
-0.92
635
0.0134
0.26
-0.92
-0.30
0.67
-0.97
637.5
0.0141
0.28
-0.97
-0.33
0.63
-1.00
640
0.0147
0.29
-1.01
-0.37
0.59
-1.03
642.5
0.0151
0.29
-1.04
-0.41
0.56
-1.05
645
0.0154
0.30
-1.06
-0.45
0.52
-1.06
647.5
0.0156
0.30
-1.07
-0.48
0.48
-1.06
650
0.0156
0.30
-1.07
-0.52
0.44
-1.05
652.5
0.0154
0.30
-1.06
-0.56
0.40
-1.03
655
0.0151
0.29
-1.04
-0.60
0.37
-1.00
657.5
0.0146
0.29
-1.01
-0.64
0.33
-0.96
660
0.0141
0.28
-0.97
-0.67
0.30
-0.92
662.5
0.0134
0.26
-0.92
-0.70
0.27
-0.87
665
0.0127
0.25
-0.87
-0.74
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 48 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 history — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.