■ 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 — 110 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)RYTM 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 ≈ 47.9% · 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
0.87
-0.07
95
0.0098
0.08
-0.07
-0.13
0.82
-0.07
100
0.0132
0.09
-0.07
-0.18
0.75
-0.08
105
0.0173
0.11
-0.08
-0.25
0.65
-0.09
110
0.0215
0.13
-0.09
-0.34
0.54
-0.09
115
0.0242
0.14
-0.09
-0.46
0.42
-0.09
120
0.0240
0.14
-0.09
-0.58
0.32
-0.08
125
0.0213
0.13
-0.09
-0.68
0.24
-0.08
130
0.0177
0.11
-0.08
-0.76
0.18
-0.07
135
0.0144
0.10
-0.07
-0.81
0.14
-0.06
140
0.0117
0.08
-0.06
-0.85
0.09
-0.05
150
0.0078
0.06
-0.05
-0.91
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.