■ 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 — 48 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)SVXY open contracts per strike for Fri, Sep 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 25.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.86
-0.02
54
0.0322
0.04
-0.02
-0.14
0.83
-0.02
55
0.0384
0.05
-0.02
-0.17
0.79
-0.02
56
0.0453
0.05
-0.02
-0.20
0.75
-0.03
57
0.0527
0.06
-0.03
-0.25
0.70
-0.03
58
0.0603
0.07
-0.03
-0.30
0.64
-0.03
59
0.0677
0.07
-0.03
-0.36
0.57
-0.03
60
0.0742
0.07
-0.03
-0.43
0.49
-0.03
61
0.0791
0.08
-0.03
-0.51
0.41
-0.03
62
0.0816
0.07
-0.03
-0.59
0.32
-0.02
63
0.0793
0.07
-0.02
-0.68
0.19
-0.02
65
0.0594
0.05
-0.02
-0.81
0.12
-0.01
67
0.0406
0.04
-0.01
-0.88
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 12 strikes around the money — all 26 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.