■ 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 — 490 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)MSFT open contracts per strike for Fri, Sep 25.
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: 610 +299 · 490 +148 · 487.5 +132 · 515 +118
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 ≈ 22.7% · 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
0.90
-0.15
465
0.0067
0.17
-0.15
-0.10
0.87
-0.18
470
0.0086
0.21
-0.18
-0.13
0.83
-0.22
475
0.0107
0.25
-0.22
-0.17
0.77
-0.25
480
0.0130
0.30
-0.26
-0.23
0.70
-0.28
485
0.0151
0.34
-0.29
-0.30
0.66
-0.30
487.5
0.0161
0.35
-0.30
-0.34
0.62
-0.31
490
0.0168
0.37
-0.31
-0.38
0.54
-0.32
495
0.0178
0.39
-0.32
-0.47
0.45
-0.32
500
0.0179
0.38
-0.32
-0.56
0.36
-0.29
505
0.0170
0.36
-0.30
-0.65
0.28
-0.26
510
0.0154
0.33
-0.27
-0.73
0.21
-0.23
515
0.0132
0.28
-0.23
-0.80
0.15
-0.18
520
0.0108
0.23
-0.19
-0.86
0.11
-0.14
525
0.0085
0.19
-0.15
-0.91
0.07
-0.11
530
0.0064
0.14
-0.11
-0.94
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 43 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.