■ 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 — 130 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)PHM open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 40.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.12
121
0.0278
0.02
-0.12
-0.10
0.88
-0.14
122
0.0340
0.03
-0.14
-0.12
0.85
-0.17
123
0.0412
0.03
-0.17
-0.15
0.81
-0.19
124
0.0492
0.04
-0.19
-0.20
0.76
-0.22
125
0.0576
0.04
-0.22
-0.24
0.70
-0.24
126
0.0657
0.05
-0.24
-0.30
0.63
-0.26
127
0.0724
0.05
-0.26
-0.37
0.56
-0.27
128
0.0765
0.05
-0.27
-0.45
0.48
-0.27
129
0.0771
0.05
-0.28
-0.52
0.41
-0.27
130
0.0741
0.05
-0.27
-0.60
0.34
-0.25
131
0.0685
0.05
-0.26
-0.67
0.28
-0.24
132
0.0614
0.04
-0.24
-0.73
0.23
-0.22
133
0.0538
0.04
-0.22
-0.78
0.19
-0.19
134
0.0466
0.04
-0.19
-0.82
0.15
-0.17
135
0.0398
0.03
-0.17
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.