■ 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 — 48 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)UVIX open contracts per strike for Fri, Sep 25.
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 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 112.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
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 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.70
-0.07
42
0.0226
0.05
-0.07
-0.30
0.68
-0.07
42.5
0.0228
0.05
-0.07
-0.32
0.67
-0.07
43
0.0230
0.06
-0.07
-0.33
0.66
-0.07
43.5
0.0231
0.06
-0.08
-0.34
0.65
-0.08
44
0.0232
0.06
-0.08
-0.35
0.62
-0.08
45
0.0233
0.06
-0.08
-0.38
0.59
-0.09
46.5
0.0233
0.06
-0.09
-0.41
0.57
-0.09
47
0.0232
0.06
-0.09
-0.42
0.56
-0.09
47.5
0.0232
0.06
-0.09
-0.44
0.55
-0.09
48
0.0231
0.06
-0.09
-0.45
0.54
-0.09
48.5
0.0230
0.06
-0.09
-0.46
0.53
-0.09
49
0.0228
0.06
-0.09
-0.47
0.52
-0.09
49.5
0.0227
0.06
-0.09
-0.48
0.51
-0.09
50
0.0226
0.06
-0.09
-0.49
0.50
-0.09
50.5
0.0224
0.06
-0.09
-0.50
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 40 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.