■ 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 — 72 — is the max pain price.
Open interest by strike · Fri, Sep 11
■ calls (up)■ puts (down)WMB open contracts per strike for Fri, Sep 11.
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 11
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 11
— call IV— put IVATM ≈ 28.8% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 11
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 11
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.90
-0.01
64
0.0236
0.04
-0.02
-0.11
0.88
-0.02
65
0.0282
0.04
-0.02
-0.14
0.85
-0.02
66
0.0336
0.05
-0.02
-0.17
0.82
-0.02
67
0.0395
0.06
-0.03
-0.20
0.78
-0.03
68
0.0455
0.07
-0.03
-0.25
0.73
-0.03
69
0.0511
0.08
-0.03
-0.30
0.67
-0.03
70
0.0559
0.08
-0.03
-0.36
0.55
-0.04
72
0.0616
0.09
-0.04
-0.48
0.27
-0.03
77
0.0511
0.08
-0.03
-0.75
0.23
-0.03
78
0.0462
0.07
-0.02
-0.79
0.15
-0.02
80
0.0360
0.05
-0.02
-0.86
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 13 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.