This page reflects ALK 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 — ALK
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (0.47 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.33
±8.4%
Days to Expiry
14
Calendar days
Total Call OI
20,071
Nearest expiry
Total Put OI
11,302
Nearest expiry
P/C OI Ratio
0.56
Put-heavy
Spot Price
$39.53
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-16
Expiration
Max Pain Strike
Last Updated
2026-08-21
$42.50
8/21/2026, 11:03:06 PM
2026-09-18
$40.00
9/18/2026, 11:02:06 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:02:20 PM
2026-11-20
$40.00
10/2/2026, 11:02:20 PM
2026-12-18
$42.50
10/2/2026, 11:02:20 PM
2027-01-15
$45.00
10/2/2026, 11:02:20 PM
2027-02-19
$42.50
10/2/2026, 11:02:20 PM
2027-03-19
$35.00
10/2/2026, 11:02:20 PM
2027-04-16
$50.00
10/2/2026, 11:02:20 PM
2027-05-21
$47.50
10/2/2026, 11:02:20 PM
Selected expiration: 2026-10-16 at max pain $40.00.
ALK pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
20598250
20598250
22.5
1250
17809000
17810250
25
2750
15022750
15025500
27.5
6750
12236500
12243250
30
12000
9483750
9495750
32.5
50500
6817250
6867750
35
104500
4319000
4423500
37.5
189000
2465000
2654000
40
303250
1233000
1536250
42.5
1407000
530500
1937500
45
2968500
123250
3091750
47.5
5492250
36000
5528250
50
8621500
11000
8632500
52.5
12408500
5500
12414000
55
16733750
0
16733750
57.5
21204250
0
21204250
60
25803250
0
25803250
62.5
30710250
0
30710250
65
35682250
0
35682250
70
45701750
0
45701750
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.