■ 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 — 370 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)UNH open contracts per strike for Fri, Sep 18.
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 18
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 18
— call IV— put IVATM ≈ 26.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 18
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 18
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.98
-0.03
340
0.0015
0.06
-0.05
-0.03
0.97
-0.04
345
0.0020
0.06
-0.06
-0.04
0.97
-0.05
350
0.0025
0.08
-0.07
-0.05
0.94
-0.08
360
0.0042
0.12
-0.10
-0.08
0.89
-0.12
370
0.0069
0.19
-0.14
-0.14
0.81
-0.18
380
0.0103
0.28
-0.18
-0.23
0.69
-0.22
390
0.0135
0.36
-0.22
-0.35
0.54
-0.24
400
0.0153
0.39
-0.24
-0.49
0.39
-0.23
410
0.0148
0.38
-0.22
-0.64
0.26
-0.19
420
0.0123
0.32
-0.18
-0.76
0.16
-0.14
430
0.0091
0.24
-0.13
-0.85
0.10
-0.10
440
0.0062
0.17
-0.09
-0.91
0.06
-0.07
450
0.0041
0.12
-0.06
-0.95
0.04
-0.05
460
0.0027
0.08
-0.04
-0.96
0.03
-0.04
470
0.0018
0.06
-0.03
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 47 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.