■ 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 — 122 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Sep 18.
Open-interest change · 2026-09-15 → 2026-09-16
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: 115 +4K · 120 +4K · 124 +4K · 250 −3K
Volume by strike · Fri, Sep 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 81.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.98
-0.06
105
0.0036
0.00
-0.06
-0.02
0.97
-0.10
110
0.0072
0.01
-0.10
-0.03
0.93
-0.21
115
0.0163
0.01
-0.21
-0.07
0.81
-0.50
120
0.0356
0.03
-0.50
-0.19
0.69
-0.73
123
0.0476
0.03
-0.73
-0.32
0.64
-0.79
124
0.0505
0.04
-0.79
-0.37
0.58
-0.83
125
0.0524
0.04
-0.83
-0.42
0.33
-0.77
130
0.0468
0.03
-0.78
-0.67
0.29
-0.72
131
0.0437
0.03
-0.73
-0.71
0.25
-0.66
132
0.0404
0.03
-0.66
-0.75
0.22
-0.59
133
0.0369
0.03
-0.59
-0.79
0.18
-0.51
134
0.0334
0.03
-0.52
-0.82
0.15
-0.44
135
0.0298
0.02
-0.44
-0.85
0.13
-0.37
136
0.0263
0.02
-0.37
-0.87
0.09
-0.26
138
0.0199
0.01
-0.26
-0.91
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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.