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 — 30 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)SMCI 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 ≈ 105.9% · 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
0.72
-0.07
26.5
0.0529
0.02
-0.07
-0.28
0.69
-0.07
27
0.0554
0.02
-0.07
-0.31
0.66
-0.08
27.5
0.0575
0.02
-0.08
-0.34
0.63
-0.08
28
0.0592
0.02
-0.08
-0.37
0.60
-0.08
28.5
0.0605
0.02
-0.08
-0.40
0.57
-0.08
29
0.0614
0.02
-0.08
-0.43
0.54
-0.09
29.5
0.0618
0.02
-0.09
-0.46
0.51
-0.09
30
0.0619
0.02
-0.09
-0.49
0.48
-0.09
30.5
0.0616
0.02
-0.09
-0.52
0.45
-0.09
31
0.0610
0.02
-0.09
-0.55
0.42
-0.09
31.5
0.0600
0.02
-0.09
-0.58
0.40
-0.08
32
0.0588
0.02
-0.08
-0.60
0.35
-0.08
33
0.0558
0.02
-0.08
-0.65
0.30
-0.08
34
0.0522
0.02
-0.08
-0.70
0.26
-0.07
35
0.0482
0.02
-0.07
-0.74
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 49 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.