■ 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 — 855 — is the max pain price.
Open interest by strike · Wed, Aug 5
■ calls (up)■ puts (down)MU open contracts per strike for Wed, Aug 5.
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 · Wed, Aug 5
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Aug 5
— call IV— put IVATM ≈ 368.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Aug 5
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 · Wed, Aug 5
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.99
-0.11
840
0.0014
0.00
-0.11
-0.01
0.98
-0.19
845
0.0021
0.00
-0.19
-0.02
0.97
-0.30
850
0.0030
0.01
-0.30
-0.03
0.93
-0.77
860
0.0060
0.01
-0.77
-0.07
0.89
-1.18
865
0.0080
0.01
-1.18
-0.11
0.85
-1.78
870
0.0103
0.02
-1.78
-0.15
0.79
-2.62
875
0.0128
0.02
-2.62
-0.21
0.73
-3.77
880
0.0151
0.02
-3.77
-0.27
0.65
-5.31
885
0.0170
0.03
-5.31
-0.35
0.56
-7.29
890
0.0182
0.03
-7.29
-0.44
0.47
-7.59
895
0.0184
0.03
-7.59
-0.54
0.38
-5.53
900
0.0176
0.03
-5.53
-0.63
0.29
-3.92
905
0.0159
0.02
-3.92
-0.71
0.22
-2.71
910
0.0137
0.02
-2.71
-0.78
0.16
-1.84
915
0.0112
0.02
-1.84
-0.84
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 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.