■ 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 — 95 — is the max pain price.
Open interest by strike · Fri, Jul 31
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Jul 31.
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, Jul 31
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jul 31
— call IV— put IVATM ≈ 101.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jul 31
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, Jul 31
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.77
-0.47
90
0.0330
0.03
-0.47
-0.23
0.74
-0.52
91
0.0359
0.03
-0.52
-0.26
0.70
-0.56
92
0.0386
0.03
-0.56
-0.30
0.66
-0.59
93
0.0408
0.03
-0.59
-0.34
0.62
-0.62
94
0.0426
0.03
-0.62
-0.38
0.57
-0.64
95
0.0439
0.03
-0.64
-0.43
0.53
-0.64
96
0.0446
0.04
-0.65
-0.47
0.51
-0.64
96.5
0.0448
0.04
-0.65
-0.49
0.48
-0.64
97
0.0448
0.04
-0.64
-0.52
0.46
-0.64
97.5
0.0447
0.04
-0.64
-0.54
0.44
-0.63
98
0.0444
0.04
-0.63
-0.56
0.42
-0.62
98.5
0.0440
0.03
-0.62
-0.58
0.40
-0.61
99
0.0435
0.03
-0.61
-0.60
0.35
-0.58
100
0.0421
0.03
-0.58
-0.65
0.32
-0.55
101
0.0402
0.03
-0.55
-0.69
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 56 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
History starts accruing now: first snapshot taken 2026-07-28. We chart only days we actually observed — check back as the record builds. The measured hit-rate across all tickers lives on the accuracy ledger.
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.