■ 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 — 610 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)TMO 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 ≈ 26.8% · 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
-0.12
540
0.0020
0.21
-0.12
-0.06
0.92
-0.15
550
0.0026
0.26
-0.15
-0.08
0.90
-0.17
560
0.0033
0.31
-0.17
-0.10
0.86
-0.20
570
0.0042
0.38
-0.20
-0.14
0.82
-0.23
580
0.0052
0.45
-0.23
-0.18
0.70
-0.29
600
0.0073
0.60
-0.29
-0.30
0.63
-0.31
610
0.0081
0.65
-0.32
-0.38
0.54
-0.33
620
0.0086
0.68
-0.33
-0.46
0.46
-0.32
630
0.0087
0.68
-0.33
-0.55
0.37
-0.31
640
0.0083
0.65
-0.31
-0.63
0.30
-0.28
650
0.0075
0.60
-0.29
-0.71
0.24
-0.26
660
0.0066
0.53
-0.26
-0.77
0.14
-0.20
680
0.0046
0.40
-0.20
-0.86
0.07
-0.12
710
0.0025
0.23
-0.13
-0.94
0.05
-0.10
720
0.0020
0.19
-0.11
-0.96
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 29 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.