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 — 29 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)SMCI open contracts per strike for Fri, Aug 28.
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 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 100.1% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.87
-0.03
23
0.0292
0.01
-0.03
-0.13
0.83
-0.04
24
0.0350
0.02
-0.04
-0.17
0.79
-0.05
25
0.0406
0.02
-0.05
-0.21
0.74
-0.05
26
0.0455
0.02
-0.05
-0.26
0.69
-0.06
27
0.0495
0.03
-0.06
-0.32
0.63
-0.06
28
0.0524
0.03
-0.06
-0.37
0.57
-0.06
29
0.0541
0.03
-0.06
-0.43
0.52
-0.07
30
0.0546
0.03
-0.07
-0.48
0.47
-0.07
31
0.0542
0.03
-0.07
-0.53
0.42
-0.07
32
0.0529
0.03
-0.07
-0.58
0.38
-0.06
33
0.0509
0.03
-0.06
-0.63
0.33
-0.06
34
0.0484
0.03
-0.06
-0.67
0.30
-0.06
35
0.0456
0.03
-0.06
-0.71
0.26
-0.06
36
0.0426
0.02
-0.05
-0.74
0.23
-0.05
37
0.0395
0.02
-0.05
-0.77
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 39 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.