■ 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 — 17.5 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)USAR open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 84.5% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.89
-0.02
15.5
0.0499
0.01
-0.02
-0.11
0.86
-0.02
16
0.0603
0.01
-0.02
-0.14
0.82
-0.03
16.5
0.0710
0.01
-0.03
-0.18
0.78
-0.03
17
0.0812
0.01
-0.03
-0.22
0.73
-0.03
17.5
0.0903
0.01
-0.03
-0.27
0.68
-0.04
18
0.0977
0.01
-0.04
-0.32
0.63
-0.04
18.5
0.1030
0.02
-0.04
-0.37
0.57
-0.04
19
0.1060
0.02
-0.04
-0.43
0.52
-0.04
19.5
0.1068
0.02
-0.04
-0.48
0.47
-0.04
20
0.1057
0.02
-0.04
-0.53
0.42
-0.04
20.5
0.1029
0.02
-0.04
-0.58
0.38
-0.04
21
0.0988
0.02
-0.04
-0.63
0.29
-0.04
22
0.0882
0.01
-0.04
-0.71
0.23
-0.03
23
0.0761
0.01
-0.03
-0.77
0.18
-0.03
24
0.0640
0.01
-0.03
-0.82
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 34 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.