■ 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 — 7500 — is the max pain price.
Open interest by strike · Thu, Jul 30
■ calls (up)■ puts (down)SPX open contracts per strike for Thu, Jul 30.
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 · Thu, Jul 30
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Jul 30
— call IV— put IVATM ≈ 21.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Jul 30
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 · Thu, Jul 30
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.95
-2.79
7200
0.0007
0.56
-2.82
-0.05
0.88
-6.63
7275
0.0015
1.06
-6.64
-0.12
0.86
-7.33
7285
0.0017
1.14
-7.34
-0.14
0.84
-8.45
7300
0.0019
1.26
-8.46
-0.16
0.79
-10.44
7325
0.0022
1.48
-10.45
-0.21
0.74
-12.42
7350
0.0026
1.68
-12.43
-0.26
0.60
-15.22
7400
0.0033
1.99
-15.23
-0.40
0.51
-15.36
7425
0.0036
2.05
-15.36
-0.49
0.42
-14.30
7450
0.0036
2.01
-14.30
-0.58
0.33
-12.04
7475
0.0035
1.86
-12.03
-0.68
0.23
-8.91
7500
0.0031
1.58
-8.90
-0.77
0.21
-8.23
7505
0.0030
1.52
-8.22
-0.79
0.18
-6.88
7515
0.0028
1.37
-6.87
-0.82
0.16
-6.21
7520
0.0026
1.30
-6.20
-0.84
0.15
-5.57
7525
0.0025
1.22
-5.55
-0.85
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 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 history
History starts accruing now: first snapshot taken 2026-07-28. We chart only days we actually observed — check back as the record builds. The measured hit-rate across all tickers lives on the accuracy ledger.
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.