■ 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 — 45 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)UGL open contracts per strike for Fri, Aug 21.
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 21
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 21
— call IV— put IVATM ≈ 38.7% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 21
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 21
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.98
-0.01
44
0.0123
0.00
-0.01
-0.02
0.97
-0.02
45
0.0189
0.01
-0.02
-0.03
0.95
-0.02
46
0.0290
0.01
-0.02
-0.05
0.92
-0.03
47
0.0442
0.01
-0.03
-0.08
0.87
-0.04
48
0.0656
0.01
-0.05
-0.13
0.80
-0.06
49
0.0928
0.02
-0.06
-0.20
0.70
-0.07
50
0.1205
0.03
-0.07
-0.30
0.57
-0.08
51
0.1382
0.03
-0.08
-0.44
0.43
-0.08
52
0.1373
0.03
-0.08
-0.58
0.31
-0.07
53
0.1197
0.03
-0.08
-0.70
0.21
-0.06
54
0.0952
0.02
-0.06
-0.80
0.15
-0.05
55
0.0717
0.02
-0.05
-0.86
0.10
-0.04
56
0.0527
0.01
-0.04
-0.91
0.07
-0.03
57
0.0384
0.01
-0.03
-0.94
0.05
-0.03
58
0.0281
0.01
-0.02
-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 25 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.