■ 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 — 102 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Aug 28.
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, Aug 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 79.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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, Aug 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.66
-0.13
90
0.0161
0.10
-0.13
-0.34
0.65
-0.14
91
0.0164
0.10
-0.14
-0.36
0.63
-0.14
92
0.0168
0.11
-0.14
-0.38
0.61
-0.14
93
0.0170
0.11
-0.14
-0.39
0.59
-0.14
94
0.0173
0.11
-0.14
-0.41
0.57
-0.14
95
0.0175
0.11
-0.14
-0.43
0.56
-0.14
96
0.0176
0.11
-0.14
-0.45
0.54
-0.14
97
0.0177
0.11
-0.14
-0.46
0.52
-0.14
98
0.0178
0.11
-0.14
-0.48
0.50
-0.14
99
0.0179
0.11
-0.14
-0.50
0.49
-0.14
100
0.0179
0.11
-0.14
-0.52
0.47
-0.14
101
0.0179
0.11
-0.14
-0.53
0.45
-0.14
102
0.0178
0.11
-0.14
-0.55
0.44
-0.14
103
0.0177
0.11
-0.14
-0.57
0.42
-0.14
104
0.0176
0.11
-0.14
-0.58
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 59 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.