What is AAL max pain this week?

AAL max pain for the nearest expiration (2026-10-09) is $13.00. Total call open interest: 19,438. Total put open interest: 30,033.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options AALMax Pain

AAL

American Airlines Group, Inc.Close $12.94EOD only

Max Pain

$13.00

Next expiry Oct 9, 2026

Expected Move

±$0.71

5.5% from close

Price Gap

+0.06

Distance to max pain

IV Rank

Low premium

P/C OI

1.37

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: Oct 2, 2026 close

End-of-day snapshot

This page reflects AAL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Oct 2, 2026 close

Max Pain — AAL

Data as of market close Oct 2, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-10-09 shows max pain at $13.00 (0.06 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$13.00

Nearest expiry

Expected Move

±$0.71

±5.5%

Days to Expiry

Calendar days

Total Call OI

19,438

Nearest expiry

Total Put OI

30,033

Nearest expiry

P/C OI Ratio

1.55

Put-heavy

Spot Price

$12.94

Published close

Consensus

Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration

Selected: 2026-10-09

Expiration	Max Pain Strike	Last Updated
2026-09-25	$13.50	9/25/2026, 11:00:59 PM
2026-10-02Updated	$13.50	10/2/2026, 11:00:59 PM
2026-10-09Next	$13.00	10/2/2026, 11:00:59 PM
2026-10-16	$13.00	10/2/2026, 11:00:59 PM
2026-10-23	$13.00	10/2/2026, 11:00:59 PM
2026-10-30	$13.50	10/2/2026, 11:00:59 PM
2026-11-06	$11.50	10/2/2026, 11:00:59 PM
2026-11-20	$14.00	10/2/2026, 11:00:59 PM
2026-12-18	$13.00	10/2/2026, 11:00:59 PM
2027-01-15	$15.00	10/2/2026, 11:00:59 PM
2027-02-19	$15.00	10/2/2026, 11:00:59 PM
2027-03-19	$14.00	10/2/2026, 11:00:59 PM
2027-05-21	$14.00	10/2/2026, 11:00:59 PM
2027-06-17	$15.00	10/2/2026, 11:00:59 PM
2027-09-17	$15.00	10/2/2026, 11:00:59 PM

Selected expiration: 2026-10-09 at max pain $13.00.

AAL pain by strike for 2026-10-09 expiration
Strike	Call Pain	Put Pain	Total Pain
5	0	22319200	22319200
6	11400	19315900	19327300
7	23800	16313200	16337000
8	36700	13310500	13347200
9	50400	10308100	10358500
9.5	58800	8806900	8865700
10	67350	7305700	7373050
10.5	77250	5805450	5882700
11	87700	4370800	4458500
11.5	98400	3018150	3116550
12	109800	1755000	1864800
12.5	173100	679250	852350
13	242200	235250	477450
13.5	424150	67500	491650
14	781450	21050	802500
14.5	1330200	6100	1336300
15	2036600	1850	2038450
15.5	2954300	1250	2955550
16	3905500	800	3906300
16.5	4872100	500	4872600

How to Read Max Pain

Compare pin-risk and strike-pressure across expirations from the latest published close.

What max pain measures

Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.

How traders use it

It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.

What can break it

Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.

The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.