■ 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 · Tue, Aug 4
■ calls (up)■ puts (down)SPX open contracts per strike for Tue, Aug 4.
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 · Tue, Aug 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Tue, Aug 4
— call IV— put IVATM ≈ 16.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Tue, Aug 4
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 · Tue, Aug 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.73
-4.57
7320
0.0018
3.35
-4.58
-0.27
0.68
-4.84
7350
0.0020
3.63
-4.85
-0.32
0.63
-4.99
7375
0.0022
3.82
-5.00
-0.37
0.58
-5.05
7400
0.0023
3.96
-5.05
-0.42
0.54
-5.03
7415
0.0024
4.01
-5.03
-0.46
0.53
-5.01
7420
0.0024
4.02
-5.01
-0.47
0.52
-4.98
7425
0.0024
4.02
-4.98
-0.48
0.51
-4.96
7430
0.0024
4.03
-4.96
-0.49
0.48
-4.88
7440
0.0025
4.03
-4.88
-0.52
0.46
-4.78
7450
0.0025
4.01
-4.78
-0.54
0.44
-4.72
7455
0.0025
3.99
-4.72
-0.56
0.43
-4.66
7460
0.0025
3.97
-4.66
-0.57
0.40
-4.52
7470
0.0025
3.92
-4.51
-0.60
0.39
-4.43
7475
0.0025
3.88
-4.43
-0.61
0.35
-4.16
7490
0.0025
3.75
-4.15
-0.65
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.