■ 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 — 135 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)PHM 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 ≈ 34.9% · 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
-0.08
120
0.0258
0.05
-0.09
-0.14
0.84
-0.09
121
0.0294
0.06
-0.09
-0.16
0.81
-0.10
122
0.0334
0.06
-0.10
-0.19
0.78
-0.11
123
0.0376
0.07
-0.11
-0.22
0.74
-0.11
124
0.0417
0.07
-0.12
-0.26
0.70
-0.12
125
0.0456
0.08
-0.12
-0.30
0.60
-0.13
127
0.0513
0.09
-0.14
-0.40
0.55
-0.14
128
0.0527
0.09
-0.14
-0.45
0.50
-0.14
129
0.0530
0.09
-0.14
-0.51
0.45
-0.14
130
0.0522
0.09
-0.14
-0.56
0.40
-0.14
131
0.0504
0.09
-0.14
-0.61
0.35
-0.13
132
0.0479
0.08
-0.13
-0.66
0.24
-0.11
135
0.0379
0.07
-0.12
-0.77
0.18
-0.10
137
0.0311
0.06
-0.10
-0.82
0.16
-0.10
138
0.0280
0.06
-0.10
-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 29 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.