■ 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 — 119 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)NRG open contracts per strike for Fri, Sep 25.
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 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 49.5% · 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
0.79
-0.11
106
0.0267
0.07
-0.11
-0.21
0.76
-0.12
107
0.0289
0.07
-0.12
-0.24
0.73
-0.13
108
0.0310
0.07
-0.13
-0.27
0.70
-0.13
109
0.0329
0.08
-0.14
-0.31
0.67
-0.14
110
0.0346
0.08
-0.14
-0.34
0.63
-0.14
111
0.0360
0.08
-0.15
-0.38
0.59
-0.15
112
0.0370
0.09
-0.15
-0.41
0.56
-0.15
113
0.0377
0.09
-0.15
-0.45
0.52
-0.15
114
0.0380
0.09
-0.15
-0.49
0.48
-0.15
115
0.0379
0.09
-0.15
-0.53
0.44
-0.15
116
0.0374
0.09
-0.15
-0.57
0.41
-0.15
117
0.0366
0.09
-0.15
-0.60
0.37
-0.15
118
0.0355
0.08
-0.15
-0.64
0.34
-0.14
119
0.0342
0.08
-0.14
-0.67
0.31
-0.14
120
0.0326
0.08
-0.14
-0.70
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.