■ 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 — 45 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)NVO 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 ≈ 29.0% · 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
0.99
-0.00
39
0.0136
0.00
-0.01
-0.05
0.98
-0.01
40
0.0297
0.01
-0.01
-0.07
0.94
-0.02
41
0.0551
0.01
-0.01
-0.10
0.88
-0.02
42
0.0740
0.03
-0.01
-0.14
0.80
-0.02
43
0.0837
0.04
-0.02
-0.22
0.71
-0.02
44
0.0976
0.04
-0.02
-0.31
0.60
-0.03
45
0.1091
0.05
-0.03
-0.42
0.49
-0.03
46
0.1117
0.05
-0.03
-0.54
0.39
-0.03
47
0.1053
0.05
-0.03
-0.65
0.30
-0.02
48
0.0932
0.04
-0.03
-0.75
0.22
-0.02
49
0.0784
0.04
-0.02
-0.84
0.16
-0.02
50
0.0633
0.03
-0.02
-0.90
0.12
-0.01
51
0.0502
0.03
-0.01
-0.94
0.10
-0.01
52
0.0400
0.02
-0.01
-0.96
0.08
-0.01
53
0.0323
0.02
-0.01
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 25 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.