■ 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 — 157.5 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)TGT 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 ≈ 30.3% · 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
-0.04
146
0.0091
0.01
-0.04
-0.03
0.97
-0.04
147
0.0114
0.01
-0.04
-0.03
0.96
-0.05
148
0.0146
0.01
-0.05
-0.04
0.95
-0.06
149
0.0188
0.02
-0.07
-0.05
0.93
-0.08
150
0.0243
0.02
-0.08
-0.07
0.85
-0.15
152.5
0.0435
0.04
-0.15
-0.15
0.72
-0.23
155
0.0652
0.06
-0.23
-0.28
0.54
-0.27
157.5
0.0787
0.07
-0.27
-0.47
0.34
-0.24
160
0.0729
0.06
-0.25
-0.66
0.19
-0.17
162.5
0.0533
0.05
-0.18
-0.81
0.09
-0.10
165
0.0319
0.03
-0.10
-0.92
0.04
-0.05
167.5
0.0165
0.01
-0.05
-0.97
0.02
-0.03
170
0.0086
0.01
-0.03
-0.99
0.01
-0.01
172.5
0.0048
0.01
-0.02
-1.00
0.01
-0.01
175
0.0029
0.00
-0.02
-1.00
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 40 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.