■ 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 — 97 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)W 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 ≈ 53.6% · 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
0.73
-0.09
97
0.0208
0.10
-0.09
-0.27
0.71
-0.09
98
0.0217
0.10
-0.09
-0.29
0.69
-0.09
99
0.0225
0.10
-0.10
-0.31
0.67
-0.10
100
0.0232
0.11
-0.10
-0.34
0.64
-0.10
101
0.0238
0.11
-0.10
-0.36
0.62
-0.10
102
0.0244
0.11
-0.10
-0.39
0.57
-0.10
104
0.0251
0.12
-0.10
-0.44
0.54
-0.10
105
0.0253
0.12
-0.11
-0.46
0.52
-0.11
106
0.0254
0.12
-0.11
-0.49
0.49
-0.11
107
0.0254
0.12
-0.11
-0.51
0.47
-0.11
108
0.0253
0.12
-0.11
-0.54
0.44
-0.10
109
0.0250
0.12
-0.10
-0.56
0.42
-0.10
110
0.0248
0.12
-0.10
-0.59
0.40
-0.10
111
0.0244
0.11
-0.10
-0.61
0.37
-0.10
112
0.0239
0.11
-0.10
-0.63
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.