■ 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 — 18 — is the max pain price.
Open interest by strike · Fri, Aug 21
■ calls (up)■ puts (down)USAR 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 ≈ 94.0% · 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
15.5
0.0233
0.00
-0.01
-0.02
0.97
-0.01
16
0.0369
0.00
-0.02
-0.03
0.94
-0.02
16.5
0.0574
0.00
-0.02
-0.06
0.91
-0.04
17
0.0862
0.00
-0.04
-0.09
0.86
-0.05
17.5
0.1222
0.01
-0.05
-0.14
0.78
-0.07
18
0.1606
0.01
-0.07
-0.22
0.69
-0.08
18.5
0.1933
0.01
-0.09
-0.31
0.58
-0.10
19
0.2122
0.01
-0.10
-0.42
0.48
-0.10
19.5
0.2140
0.01
-0.10
-0.53
0.38
-0.09
20
0.2007
0.01
-0.09
-0.63
0.29
-0.09
20.5
0.1776
0.01
-0.09
-0.71
0.22
-0.07
21
0.1500
0.01
-0.07
-0.78
0.16
-0.06
21.5
0.1223
0.01
-0.06
-0.84
0.12
-0.05
22
0.0972
0.00
-0.05
-0.88
0.09
-0.04
22.5
0.0756
0.00
-0.04
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 41 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.