■ 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 — 26.5 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)ZETA 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 ≈ 64.5% · 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
0.78
-0.02
25
0.0490
0.03
-0.02
-0.23
0.75
-0.02
25.5
0.0524
0.03
-0.02
-0.25
0.72
-0.02
26
0.0555
0.03
-0.02
-0.28
0.69
-0.02
26.5
0.0582
0.04
-0.02
-0.32
0.66
-0.03
27
0.0605
0.04
-0.03
-0.35
0.62
-0.03
27.5
0.0623
0.04
-0.03
-0.38
0.59
-0.03
28
0.0636
0.04
-0.03
-0.41
0.56
-0.03
28.5
0.0644
0.04
-0.03
-0.45
0.53
-0.03
29
0.0648
0.04
-0.03
-0.48
0.49
-0.03
29.5
0.0648
0.04
-0.03
-0.51
0.46
-0.03
30
0.0643
0.04
-0.03
-0.54
0.43
-0.03
30.5
0.0635
0.04
-0.03
-0.57
0.41
-0.03
31
0.0623
0.04
-0.03
-0.60
0.38
-0.03
31.5
0.0609
0.04
-0.03
-0.63
0.35
-0.03
32
0.0592
0.04
-0.03
-0.65
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 30 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.