Event risk before this expiration:CPI release Wed, Aug 12 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ 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 — 25 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)RDWR 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 ≈ 70.4% · 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
0.92
-0.04
22
0.0262
0.01
-0.04
-0.08
0.90
-0.04
23
0.0338
0.01
-0.04
-0.10
0.88
-0.04
24
0.0443
0.01
-0.04
-0.12
0.84
-0.05
25
0.0593
0.01
-0.05
-0.15
0.80
-0.05
26
0.0812
0.01
-0.05
-0.20
0.72
-0.05
27
0.1120
0.02
-0.05
-0.28
0.60
-0.05
28
0.1460
0.02
-0.05
-0.40
0.45
-0.05
29
0.1535
0.02
-0.05
-0.55
0.33
-0.05
30
0.1282
0.02
-0.05
-0.67
0.25
-0.05
31
0.0999
0.01
-0.05
-0.75
0.20
-0.05
32
0.0782
0.01
-0.05
-0.80
0.16
-0.05
33
0.0627
0.01
-0.05
-0.84
0.14
-0.04
34
0.0514
0.01
-0.04
-0.86
0.12
-0.04
35
0.0430
0.01
-0.04
-0.88
0.08
-0.04
38
0.0276
0.01
-0.04
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 22 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.