■ 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 — 129 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)TJX 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
0.94
-0.05
125
0.0301
0.02
-0.06
-0.06
0.91
-0.07
126
0.0419
0.02
-0.07
-0.09
0.87
-0.10
127
0.0574
0.03
-0.10
-0.13
0.81
-0.13
128
0.0758
0.04
-0.13
-0.20
0.72
-0.15
129
0.0936
0.05
-0.16
-0.28
0.62
-0.18
130
0.1068
0.05
-0.18
-0.38
0.51
-0.19
131
0.1120
0.06
-0.19
-0.49
0.40
-0.18
132
0.1080
0.05
-0.18
-0.60
0.30
-0.16
133
0.0965
0.05
-0.17
-0.71
0.22
-0.14
134
0.0804
0.04
-0.14
-0.79
0.15
-0.11
135
0.0631
0.03
-0.11
-0.86
0.11
-0.08
136
0.0477
0.03
-0.08
-0.90
0.08
-0.07
137
0.0360
0.02
-0.07
-0.93
0.06
-0.06
138
0.0278
0.02
-0.06
-0.95
0.04
-0.05
140
0.0182
0.01
-0.04
-0.97
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 38 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.