■ 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, Sep 4
■ calls (up)■ puts (down)PHM 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 ≈ 35.9% · 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
0.82
-0.07
120
0.0249
0.07
-0.07
-0.18
0.80
-0.08
121
0.0275
0.08
-0.08
-0.20
0.77
-0.08
122
0.0300
0.09
-0.09
-0.23
0.74
-0.09
123
0.0326
0.09
-0.09
-0.26
0.71
-0.09
124
0.0350
0.10
-0.09
-0.29
0.64
-0.10
126
0.0390
0.11
-0.10
-0.37
0.59
-0.10
127
0.0403
0.11
-0.10
-0.41
0.55
-0.10
128
0.0412
0.11
-0.11
-0.45
0.51
-0.11
129
0.0415
0.11
-0.11
-0.49
0.47
-0.11
130
0.0413
0.11
-0.11
-0.53
0.43
-0.11
131
0.0406
0.11
-0.11
-0.57
0.39
-0.10
132
0.0395
0.11
-0.10
-0.61
0.32
-0.10
134
0.0363
0.10
-0.10
-0.69
0.29
-0.10
135
0.0343
0.10
-0.10
-0.72
0.24
-0.09
137
0.0301
0.09
-0.09
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 27 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.