■ 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 — 61 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)SU open contracts per strike for Fri, Sep 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 · Fri, Sep 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 27.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 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 · Fri, Sep 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.94
-0.02
58
0.0209
0.02
-0.02
-0.07
0.93
-0.02
59
0.0267
0.02
-0.02
-0.09
0.90
-0.02
60
0.0342
0.03
-0.02
-0.12
0.87
-0.02
61
0.0437
0.03
-0.03
-0.15
0.83
-0.03
62
0.0553
0.04
-0.03
-0.20
0.70
-0.04
64
0.0812
0.05
-0.04
-0.34
0.62
-0.04
65
0.0907
0.06
-0.04
-0.42
0.52
-0.04
66
0.0939
0.06
-0.04
-0.52
0.43
-0.04
67
0.0907
0.06
-0.04
-0.60
0.35
-0.04
68
0.0830
0.06
-0.04
-0.68
0.28
-0.04
69
0.0730
0.05
-0.04
-0.74
0.23
-0.04
70
0.0627
0.05
-0.03
-0.79
0.15
-0.03
72
0.0448
0.04
-0.03
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 13 strikes around the money — all 14 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 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.