■ 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 — 7450 — is the max pain price.
Open interest by strike · Fri, Jul 31
■ calls (up)■ puts (down)SPX open contracts per strike for Fri, Jul 31.
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, Jul 31
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Jul 31
— call IV— put IVATM ≈ 20.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Jul 31
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, Jul 31
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-5.35
7230
0.0011
1.26
-5.37
-0.11
0.87
-6.09
7250
0.0013
1.41
-6.11
-0.13
0.84
-6.87
7270
0.0015
1.57
-6.89
-0.16
0.83
-7.27
7280
0.0016
1.66
-7.29
-0.17
0.80
-8.08
7300
0.0018
1.82
-8.10
-0.20
0.71
-9.95
7350
0.0023
2.23
-9.96
-0.29
0.59
-10.98
7400
0.0028
2.51
-10.99
-0.41
0.44
-10.39
7450
0.0030
2.54
-10.39
-0.56
0.36
-9.33
7475
0.0030
2.42
-9.32
-0.64
0.28
-7.79
7500
0.0028
2.19
-7.79
-0.72
0.20
-5.93
7525
0.0025
1.85
-5.92
-0.80
0.13
-3.99
7550
0.0020
1.43
-3.97
-0.87
0.04
-1.09
7600
0.0009
0.59
-1.07
-0.96
0.02
-0.54
7620
0.0005
0.35
-0.52
-0.98
0.01
-0.19
7650
0.0002
0.16
-0.16
-0.99
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.