■ 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 — 20 — is the max pain price.
Open interest by strike · Fri, Sep 18
■ calls (up)■ puts (down)USAR 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 ≈ 84.5% · 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
0.97
-0.01
12
0.0136
0.00
-0.01
-0.03
0.95
-0.01
13
0.0212
0.01
-0.01
-0.05
0.92
-0.01
14
0.0316
0.01
-0.01
-0.08
0.87
-0.01
15
0.0440
0.01
-0.02
-0.13
0.81
-0.02
16
0.0568
0.02
-0.02
-0.19
0.73
-0.02
17
0.0680
0.02
-0.02
-0.26
0.65
-0.03
18
0.0761
0.02
-0.03
-0.34
0.57
-0.03
19
0.0803
0.02
-0.03
-0.42
0.49
-0.03
20
0.0807
0.02
-0.03
-0.50
0.42
-0.03
21
0.0781
0.02
-0.03
-0.58
0.36
-0.03
22
0.0734
0.02
-0.03
-0.64
0.30
-0.03
23
0.0674
0.02
-0.03
-0.70
0.25
-0.03
24
0.0609
0.02
-0.03
-0.75
0.21
-0.02
25
0.0543
0.02
-0.02
-0.79
0.17
-0.02
26
0.0479
0.01
-0.02
-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 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.