■ 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 — 26 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)RDWR open contracts per strike for Fri, Sep 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 50.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.91
-0.02
20
0.0196
0.01
-0.02
-0.09
0.85
-0.02
23
0.0355
0.02
-0.02
-0.15
0.82
-0.02
24
0.0438
0.02
-0.02
-0.17
0.78
-0.02
25
0.0543
0.03
-0.02
-0.21
0.73
-0.02
26
0.0670
0.03
-0.02
-0.27
0.66
-0.02
27
0.0806
0.03
-0.02
-0.33
0.58
-0.02
28
0.0908
0.04
-0.02
-0.42
0.48
-0.02
29
0.0925
0.04
-0.02
-0.51
0.40
-0.02
30
0.0862
0.04
-0.02
-0.59
0.34
-0.02
31
0.0765
0.03
-0.02
-0.66
0.29
-0.02
32
0.0668
0.03
-0.02
-0.70
0.20
-0.02
35
0.0453
0.03
-0.02
-0.80
0.14
-0.02
39
0.0300
0.02
-0.02
-0.86
0.13
-0.02
40
0.0275
0.02
-0.02
-0.87
0.10
-0.02
45
0.0190
0.02
-0.02
-0.90
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 20 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.