■ 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 — 115 — is the max pain price.
Open interest by strike · Fri, Sep 4
■ calls (up)■ puts (down)WPM open contracts per strike for Fri, Sep 4.
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 4
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 4
— call IV— put IVATM ≈ 44.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 4
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 4
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.75
-0.11
126
0.0227
0.10
-0.11
-0.25
0.73
-0.11
127
0.0239
0.11
-0.11
-0.28
0.68
-0.12
129
0.0260
0.12
-0.12
-0.33
0.65
-0.12
130
0.0269
0.12
-0.12
-0.36
0.62
-0.13
131
0.0276
0.12
-0.13
-0.38
0.59
-0.13
132
0.0282
0.13
-0.13
-0.41
0.56
-0.13
133
0.0286
0.13
-0.13
-0.44
0.53
-0.13
134
0.0288
0.13
-0.13
-0.47
0.51
-0.13
135
0.0288
0.13
-0.13
-0.50
0.37
-0.13
140
0.0267
0.12
-0.13
-0.64
0.26
-0.11
145
0.0222
0.10
-0.12
-0.74
0.25
-0.11
146
0.0213
0.10
-0.11
-0.76
0.18
-0.10
150
0.0174
0.09
-0.10
-0.82
0.13
-0.08
155
0.0132
0.07
-0.08
-0.88
0.09
-0.07
160
0.0099
0.05
-0.07
-0.92
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 43 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.