■ 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 — 106 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)WMT 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 ≈ 26.9% · 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
0.98
-0.02
103
0.0134
0.01
-0.02
-0.02
0.97
-0.03
104
0.0190
0.01
-0.03
-0.03
0.96
-0.04
105
0.0287
0.01
-0.04
-0.04
0.93
-0.06
106
0.0454
0.01
-0.06
-0.07
0.88
-0.09
107
0.0711
0.02
-0.09
-0.12
0.80
-0.13
108
0.1031
0.03
-0.13
-0.20
0.68
-0.17
109
0.1325
0.04
-0.17
-0.32
0.54
-0.19
110
0.1480
0.04
-0.20
-0.47
0.39
-0.19
111
0.1426
0.04
-0.19
-0.61
0.26
-0.15
112
0.1198
0.03
-0.15
-0.74
0.17
-0.11
113
0.0895
0.03
-0.11
-0.84
0.10
-0.07
114
0.0608
0.02
-0.07
-0.91
0.06
-0.05
115
0.0392
0.01
-0.04
-0.95
0.04
-0.03
116
0.0251
0.01
-0.03
-0.97
0.02
-0.02
117
0.0164
0.01
-0.02
-0.98
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 50 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.