■ 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 — 755 — is the max pain price.
Open interest by strike · Tue, Sep 22
■ calls (up)■ puts (down)SPY open contracts per strike for Tue, Sep 22.
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, Sep 22
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Tue, Sep 22
— call IV— put IVATM ≈ 11.0% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Tue, Sep 22
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, Sep 22
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.73
-0.29
755
0.0219
0.43
-0.28
-0.31
0.71
-0.29
756
0.0229
0.44
-0.28
-0.33
0.69
-0.30
757
0.0240
0.46
-0.28
-0.35
0.67
-0.30
758
0.0250
0.47
-0.29
-0.37
0.65
-0.30
759
0.0260
0.48
-0.29
-0.40
0.62
-0.31
760
0.0269
0.49
-0.29
-0.42
0.57
-0.30
762
0.0285
0.51
-0.28
-0.47
0.51
-0.30
764
0.0297
0.52
-0.28
-0.53
0.48
-0.29
765
0.0301
0.52
-0.27
-0.55
0.42
-0.27
767
0.0302
0.51
-0.26
-0.61
0.36
-0.25
769
0.0295
0.49
-0.24
-0.67
0.33
-0.24
770
0.0288
0.48
-0.22
-0.70
0.24
-0.19
773
0.0254
0.42
-0.18
-0.79
0.19
-0.16
775
0.0223
0.37
-0.15
-0.84
0.16
-0.14
776
0.0206
0.34
-0.14
-0.86
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.