■ 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 — 62 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)SU open contracts per strike for Fri, Sep 25.
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 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 27.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
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 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.97
-0.01
55
0.0121
0.02
-0.01
-0.05
0.81
-0.02
61
0.0452
0.06
-0.02
-0.20
0.76
-0.02
62
0.0518
0.07
-0.02
-0.25
0.71
-0.03
63
0.0575
0.08
-0.03
-0.31
0.65
-0.03
64
0.0620
0.08
-0.03
-0.37
0.58
-0.03
65
0.0647
0.09
-0.03
-0.43
0.52
-0.03
66
0.0655
0.09
-0.03
-0.50
0.45
-0.03
67
0.0645
0.09
-0.03
-0.56
0.39
-0.03
68
0.0619
0.09
-0.03
-0.63
0.21
-0.02
72
0.0434
0.06
-0.02
-0.81
0.14
-0.02
74
0.0336
0.05
-0.02
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. 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.