■ 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 — 487.5 — is the max pain price.
Open interest by strike · Wed, Sep 30
■ calls (up)■ puts (down)MSFT open contracts per strike for Wed, Sep 30.
Open-interest change · 2026-09-17 → 2026-09-18
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: 455 +638 · 475 +290 · 450 +146 · 510 +68
Volume by strike · Wed, Sep 30
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Sep 30
— call IV— put IVATM ≈ 22.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Sep 30
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 30
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.79
-0.26
477.5
0.0134
0.26
-0.26
-0.21
0.76
-0.28
480
0.0148
0.28
-0.28
-0.24
0.72
-0.30
482.5
0.0161
0.30
-0.30
-0.28
0.68
-0.31
485
0.0172
0.32
-0.32
-0.32
0.63
-0.33
487.5
0.0182
0.34
-0.33
-0.37
0.59
-0.34
490
0.0190
0.35
-0.34
-0.41
0.54
-0.34
492.5
0.0196
0.36
-0.34
-0.46
0.49
-0.34
495
0.0198
0.36
-0.34
-0.51
0.44
-0.33
497.5
0.0197
0.35
-0.34
-0.56
0.39
-0.32
500
0.0193
0.34
-0.33
-0.61
0.35
-0.31
502.5
0.0186
0.33
-0.32
-0.66
0.30
-0.29
505
0.0176
0.31
-0.30
-0.71
0.26
-0.27
507.5
0.0164
0.29
-0.28
-0.75
0.22
-0.24
510
0.0150
0.27
-0.25
-0.79
0.19
-0.22
512.5
0.0136
0.24
-0.23
-0.83
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 35 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.