■ 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 — 400 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)UNH open contracts per strike for Fri, Aug 28.
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 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 30.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.96
-0.13
382.5
0.0073
0.02
-0.13
-0.04
0.95
-0.17
385
0.0100
0.03
-0.17
-0.05
0.93
-0.25
387.5
0.0142
0.04
-0.25
-0.07
0.89
-0.36
390
0.0201
0.06
-0.37
-0.11
0.84
-0.53
392.5
0.0273
0.07
-0.53
-0.16
0.76
-0.72
395
0.0348
0.09
-0.72
-0.24
0.67
-0.90
397.5
0.0411
0.11
-0.90
-0.34
0.56
-1.00
400
0.0446
0.12
-1.01
-0.45
0.45
-1.00
402.5
0.0446
0.12
-1.02
-0.56
0.34
-0.90
405
0.0411
0.11
-0.92
-0.67
0.25
-0.73
407.5
0.0352
0.09
-0.75
-0.76
0.17
-0.54
410
0.0280
0.08
-0.55
-0.84
0.11
-0.37
412.5
0.0210
0.06
-0.36
-0.90
0.07
-0.24
415
0.0148
0.04
-0.23
-0.94
0.04
-0.15
417.5
0.0101
0.03
-0.14
-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 60 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.