■ 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 — 125 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)MSTR open contracts per strike for Fri, Sep 25.
Open-interest change · 2026-09-10 → 2026-09-11
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: 100 +1K · 105 +960 · 95 +649 · 125 +464
Volume by strike · Fri, Sep 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 67.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
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 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.71
-0.21
123
0.0199
0.09
-0.21
-0.29
0.69
-0.22
124
0.0206
0.09
-0.22
-0.31
0.67
-0.22
125
0.0212
0.09
-0.23
-0.33
0.62
-0.23
127
0.0221
0.10
-0.24
-0.38
0.60
-0.24
128
0.0224
0.10
-0.24
-0.40
0.58
-0.24
129
0.0227
0.10
-0.24
-0.42
0.56
-0.25
130
0.0229
0.10
-0.25
-0.45
0.53
-0.25
131
0.0230
0.10
-0.25
-0.47
0.51
-0.25
132
0.0230
0.10
-0.25
-0.49
0.49
-0.25
133
0.0229
0.10
-0.25
-0.52
0.46
-0.25
134
0.0228
0.10
-0.25
-0.54
0.44
-0.25
135
0.0226
0.10
-0.25
-0.56
0.42
-0.25
136
0.0223
0.10
-0.25
-0.58
0.40
-0.24
137
0.0220
0.10
-0.25
-0.60
0.38
-0.24
138
0.0216
0.10
-0.24
-0.62
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.