Learn
Short, plain explanations of the numbers on this site and the vocabulary around them. Each one links to the live data.
- What is open interest in options?
Open interest vs volume, a worked opening-and-closing example, reporting timing and current ticker snapshots.
- Put/call ratio and put-call parity
What the ratio measures, the two ways to compute it, and the parity relation that ties calls, puts and the forward price together.
- Max pain options: a worked calculator example
A three-strike example with multipliers and ties, nearest-expiration values and the limits of a max-pain forecast.
- Gamma exposure (GEX): charts, flip and walls
An annotated synthetic chart, exposure units, gamma flip, call and put walls, and the assumptions behind the numbers.
- Gamma max
A model-derived reference for peak aggregate gamma, its limitations and how to read it on a ticker page.
- Delta neutral price
The price where the summed delta of every open contract is zero, its limitations, and how to read it against the close.
Use the guides with current ticker data
Read the snapshot's date and expiration alongside the definition. These pages bring max pain, GEX and open interest together.
- GME max pain and GEX
GameStop Corp.
- SPY max pain and GEX
State Street SPDR S&P 500 ETF Trust
- NVDA max pain and GEX
NVIDIA Corporation
- QQQ max pain and GEX
Invesco QQQ
- TSLA max pain and GEX
Tesla, Inc.
- After the open-interest guide, compare ticker open interest totals or inspect five-session open interest increases.
- After the max-pain example, compare closes near the nearest-expiration max pain.
- After the GEX chart, compare normalized gamma exposure across tickers.
Original research: Does max pain predict expiration price? A 2025 comparison reports a stated baseline, weekly results and missing observations.
Methodology explains the scope, interpretation and limitations of the published levels.