■ 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 — 46 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)PAAS open contracts per strike for Fri, Aug 28.
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, Aug 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 49.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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, Aug 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-0.05
44
0.0549
0.02
-0.05
-0.15
0.80
-0.06
45
0.0710
0.02
-0.06
-0.21
0.77
-0.06
45.5
0.0790
0.03
-0.06
-0.25
0.72
-0.07
46
0.0866
0.03
-0.06
-0.29
0.68
-0.07
46.5
0.0930
0.03
-0.07
-0.33
0.63
-0.07
47
0.0981
0.03
-0.07
-0.38
0.58
-0.07
47.5
0.1014
0.03
-0.07
-0.43
0.53
-0.08
48
0.1028
0.03
-0.07
-0.48
0.48
-0.08
48.5
0.1022
0.03
-0.07
-0.53
0.43
-0.07
49
0.0998
0.03
-0.07
-0.58
0.34
-0.07
50
0.0909
0.03
-0.07
-0.67
0.26
-0.06
51
0.0788
0.03
-0.06
-0.74
0.20
-0.06
52
0.0660
0.02
-0.05
-0.80
0.16
-0.05
53
0.0542
0.02
-0.05
-0.85
0.12
-0.04
54
0.0438
0.02
-0.04
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 33 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.