■ 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 — 89 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)PDD open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 32.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-0.03
79
0.0231
0.01
-0.03
-0.05
0.93
-0.04
80
0.0319
0.02
-0.04
-0.07
0.90
-0.05
81
0.0444
0.02
-0.05
-0.10
0.85
-0.06
82
0.0605
0.03
-0.06
-0.15
0.79
-0.08
83
0.0787
0.04
-0.08
-0.21
0.70
-0.09
84
0.0954
0.04
-0.09
-0.30
0.60
-0.10
85
0.1066
0.05
-0.10
-0.41
0.49
-0.11
86
0.1100
0.05
-0.11
-0.52
0.38
-0.10
87
0.1049
0.04
-0.10
-0.63
0.29
-0.09
88
0.0930
0.04
-0.09
-0.72
0.21
-0.07
89
0.0771
0.03
-0.08
-0.80
0.15
-0.06
90
0.0605
0.03
-0.06
-0.86
0.10
-0.05
91
0.0458
0.02
-0.05
-0.91
0.07
-0.04
92
0.0341
0.02
-0.04
-0.94
0.05
-0.03
93
0.0253
0.01
-0.03
-0.96
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.