■ 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 — 230 — is the max pain price.
Open interest by strike · Fri, Aug 7
■ calls (up)■ puts (down)TSEM open contracts per strike for Fri, Aug 7.
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, Aug 7
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 7
— call IV— put IVATM ≈ 121.4% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 7
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, Aug 7
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.85
212.5
0.0128
0.02
-0.86
-0.12
0.85
-1.17
215
0.0156
0.03
-1.17
-0.15
0.81
-1.58
217.5
0.0185
0.03
-1.59
-0.19
0.76
-2.12
220
0.0214
0.04
-2.12
-0.24
0.70
-2.79
222.5
0.0241
0.04
-2.79
-0.30
0.64
-3.52
225
0.0262
0.05
-3.52
-0.36
0.57
-4.12
227.5
0.0276
0.05
-4.12
-0.43
0.50
-4.31
230
0.0281
0.05
-4.31
-0.50
0.43
-4.00
232.5
0.0277
0.05
-4.00
-0.57
0.36
-3.36
235
0.0264
0.05
-3.36
-0.64
0.30
-2.67
237.5
0.0245
0.04
-2.67
-0.70
0.25
-2.07
240
0.0221
0.04
-2.07
-0.75
0.20
-1.59
242.5
0.0194
0.04
-1.59
-0.80
0.16
-1.21
245
0.0168
0.03
-1.22
-0.84
0.13
-0.92
247.5
0.0142
0.03
-0.93
-0.87
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 59 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.