■ 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 — 27.5 — is the max pain price.
Open interest by strike · Fri, Aug 28
■ calls (up)■ puts (down)ZSL open contracts per strike for Fri, Aug 28.
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, Aug 28
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Aug 28
— call IV— put IVATM ≈ 89.2% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Aug 28
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, Aug 28
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.84
-0.04
20
0.0518
0.01
-0.04
-0.17
0.72
-0.05
22
0.0768
0.02
-0.05
-0.29
0.63
-0.06
23
0.0870
0.02
-0.05
-0.37
0.54
-0.06
24
0.0918
0.02
-0.06
-0.46
0.37
-0.05
26
0.0839
0.02
-0.05
-0.62
0.34
-0.05
26.5
0.0797
0.02
-0.05
-0.66
0.30
-0.05
27
0.0752
0.02
-0.05
-0.69
0.28
-0.05
27.5
0.0706
0.02
-0.05
-0.71
0.25
-0.05
28
0.0660
0.02
-0.05
-0.74
0.21
-0.04
29
0.0574
0.01
-0.04
-0.78
0.19
-0.04
29.5
0.0534
0.01
-0.04
-0.80
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 11 strikes around the money — all 25 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.