■ 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 — 7675 — is the max pain price.
Open interest by strike · Wed, Sep 16
■ calls (up)■ puts (down)SPX open contracts per strike for Wed, Sep 16.
Open-interest change · 2026-09-10 → 2026-09-11
Net contracts opened (up, green) or closed (down, red) per strike since the previous snapshot — where the walls are building and where they’re unwinding. Biggest moves: 7680 +1K · 7685 +955 · 5000 +904 · 7710 +898
Volume by strike · Wed, Sep 16
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Sep 16
— call IV— put IVATM ≈ 10.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Sep 16
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 · Wed, Sep 16
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-2.83
7520
0.0017
2.05
-2.83
-0.14
0.85
-2.90
7525
0.0018
2.12
-2.90
-0.15
0.77
-3.62
7575
0.0027
2.79
-3.62
-0.23
0.70
-3.94
7600
0.0032
3.12
-3.94
-0.30
0.63
-4.14
7625
0.0036
3.40
-4.14
-0.37
0.55
-4.17
7645
0.0040
3.54
-4.17
-0.45
0.53
-4.15
7650
0.0040
3.55
-4.15
-0.47
0.51
-4.12
7655
0.0041
3.56
-4.12
-0.49
0.45
-3.96
7670
0.0042
3.54
-3.96
-0.55
0.43
-3.89
7675
0.0042
3.51
-3.89
-0.57
0.41
-3.80
7680
0.0042
3.48
-3.80
-0.59
0.39
-3.70
7685
0.0042
3.43
-3.70
-0.61
0.32
-3.34
7700
0.0040
3.23
-3.34
-0.68
0.30
-3.21
7705
0.0039
3.14
-3.21
-0.70
0.28
-3.06
7710
0.0038
3.04
-3.06
-0.72
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 — nearest expiry vs price
— max pain (nearest expiry)- - delayed closeOne point per snapshot day since 2026-07-28; unobserved days are gaps, not guesses.
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.