■ 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 — 7515 — is the max pain price.
Open interest by strike · Thu, Aug 6
■ calls (up)■ puts (down)SPX open contracts per strike for Thu, Aug 6.
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, Aug 6
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Thu, Aug 6
— call IV— put IVATM ≈ 16.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Thu, Aug 6
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, Aug 6
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.80
-3.58
7250
0.0012
3.27
-3.60
-0.20
0.78
-3.76
7270
0.0014
3.48
-3.78
-0.22
0.77
-3.80
7275
0.0014
3.52
-3.82
-0.23
0.74
-4.00
7300
0.0015
3.77
-4.02
-0.26
0.62
-4.39
7375
0.0019
4.39
-4.40
-0.38
0.53
-4.36
7420
0.0021
4.57
-4.36
-0.47
0.52
-4.34
7425
0.0021
4.58
-4.34
-0.48
0.51
-4.31
7430
0.0022
4.58
-4.31
-0.49
0.47
-4.18
7450
0.0022
4.57
-4.18
-0.53
0.43
-4.05
7465
0.0022
4.53
-4.04
-0.57
0.41
-3.94
7475
0.0022
4.47
-3.93
-0.59
0.40
-3.87
7480
0.0022
4.44
-3.87
-0.60
0.37
-3.74
7490
0.0022
4.37
-3.73
-0.63
0.35
-3.59
7500
0.0022
4.27
-3.58
-0.65
0.34
-3.51
7505
0.0022
4.22
-3.50
-0.66
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.