■ 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 — 100 — 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 — 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, Sep 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 80.4% · 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
0.93
-0.04
60
0.0038
0.05
-0.04
-0.07
0.91
-0.05
65
0.0050
0.06
-0.05
-0.09
0.87
-0.06
70
0.0065
0.08
-0.06
-0.13
0.83
-0.07
75
0.0081
0.09
-0.08
-0.17
0.78
-0.08
80
0.0098
0.11
-0.09
-0.23
0.72
-0.10
85
0.0113
0.12
-0.10
-0.28
0.65
-0.10
90
0.0125
0.13
-0.10
-0.35
0.59
-0.11
95
0.0133
0.14
-0.11
-0.42
0.52
-0.11
100
0.0137
0.14
-0.11
-0.48
0.45
-0.11
105
0.0137
0.14
-0.11
-0.55
0.39
-0.10
110
0.0134
0.14
-0.10
-0.61
0.34
-0.10
115
0.0127
0.13
-0.10
-0.67
0.28
-0.09
120
0.0118
0.12
-0.09
-0.72
0.24
-0.08
125
0.0108
0.11
-0.08
-0.77
0.20
-0.08
130
0.0098
0.10
-0.07
-0.81
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
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.