■ 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 — 757 — is the max pain price.
Open interest by strike · Wed, Sep 23
■ calls (up)■ puts (down)SPY open contracts per strike for Wed, Sep 23.
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 · Wed, Sep 23
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Wed, Sep 23
— call IV— put IVATM ≈ 11.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Wed, Sep 23
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 23
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.68
-0.29
757
0.0231
0.48
-0.28
-0.36
0.66
-0.30
758
0.0240
0.50
-0.28
-0.38
0.64
-0.30
759
0.0248
0.51
-0.28
-0.40
0.61
-0.30
760
0.0256
0.52
-0.28
-0.42
0.59
-0.30
761
0.0263
0.52
-0.28
-0.45
0.56
-0.29
762
0.0270
0.54
-0.28
-0.47
0.54
-0.29
763
0.0275
0.54
-0.27
-0.50
0.51
-0.29
764
0.0280
0.54
-0.27
-0.52
0.48
-0.28
765
0.0282
0.54
-0.26
-0.55
0.42
-0.26
767
0.0283
0.53
-0.25
-0.60
0.34
-0.23
770
0.0271
0.50
-0.22
-0.69
0.20
-0.16
775
0.0217
0.40
-0.16
-0.82
0.18
-0.15
776
0.0203
0.37
-0.14
-0.84
0.16
-0.13
777
0.0187
0.35
-0.13
-0.86
0.14
-0.12
778
0.0172
0.32
-0.11
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 55 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.