■ 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 — 23 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)NLY open contracts per strike for Fri, Sep 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 11
— call IV— put IVATM ≈ 11.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.00
20
0.0382
0.01
-0.00
-0.04
0.95
-0.00
20.5
0.0523
0.01
-0.00
-0.05
0.94
-0.00
21
0.0736
0.01
-0.00
-0.07
0.91
-0.00
21.5
0.1064
0.01
-0.00
-0.09
0.87
-0.01
22
0.1588
0.01
-0.01
-0.13
0.80
-0.01
22.5
0.2430
0.02
-0.01
-0.21
0.68
-0.01
23
0.3649
0.02
-0.01
-0.34
0.48
-0.01
23.5
0.4538
0.03
-0.01
-0.55
0.27
-0.01
24
0.3720
0.02
-0.01
-0.78
0.15
-0.00
24.5
0.2370
0.02
-0.01
-0.91
0.09
-0.00
25
0.1469
0.01
-0.00
-0.96
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 15 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.