■ 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 — 27 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)SA 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 ≈ 66.3% · 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
0.97
-0.01
26
0.0167
0.00
-0.01
-0.03
0.95
-0.02
27
0.0271
0.01
-0.02
-0.05
0.91
-0.03
28
0.0419
0.01
-0.03
-0.09
0.86
-0.04
29
0.0608
0.01
-0.04
-0.14
0.79
-0.06
30
0.0814
0.01
-0.06
-0.21
0.69
-0.07
31
0.0992
0.02
-0.07
-0.31
0.58
-0.08
32
0.1096
0.02
-0.08
-0.42
0.47
-0.08
33
0.1103
0.02
-0.08
-0.53
0.37
-0.08
34
0.1028
0.02
-0.08
-0.63
0.28
-0.07
35
0.0901
0.02
-0.07
-0.72
0.21
-0.06
36
0.0756
0.01
-0.06
-0.79
0.16
-0.05
37
0.0616
0.01
-0.05
-0.84
0.12
-0.04
38
0.0492
0.01
-0.04
-0.88
0.09
-0.04
39
0.0389
0.01
-0.04
-0.91
0.07
-0.03
40
0.0306
0.01
-0.03
-0.93
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.