■ 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 — 170 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)RJF 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 ≈ 19.5% · 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
0.95
-0.02
145
0.0039
0.06
-0.03
-0.05
0.94
-0.03
150
0.0052
0.07
-0.04
-0.06
0.92
-0.03
155
0.0070
0.08
-0.04
-0.08
0.89
-0.04
160
0.0096
0.10
-0.05
-0.10
0.85
-0.05
165
0.0135
0.13
-0.05
-0.14
0.79
-0.05
170
0.0190
0.16
-0.06
-0.20
0.70
-0.06
175
0.0263
0.20
-0.06
-0.30
0.56
-0.06
180
0.0332
0.22
-0.06
-0.44
0.39
-0.06
185
0.0335
0.22
-0.06
-0.61
0.25
-0.05
190
0.0266
0.18
-0.05
-0.76
0.16
-0.04
195
0.0190
0.14
-0.04
-0.84
0.11
-0.04
200
0.0135
0.11
-0.03
-0.89
0.06
-0.03
210
0.0072
0.07
-0.02
-0.95
0.04
-0.02
220
0.0043
0.05
-0.01
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 14 strikes around the money — all 24 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.