Nearest listed expiration 2026-10-09 shows max pain at $465.00 (75.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$465.00
Nearest expiry
Expected Move
±$26.62
±4.9%
Days to Expiry
7
Calendar days
Total Call OI
10,050
Nearest expiry
Total Put OI
7,827
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$540.04
Published close
Consensus
6.5/10
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
$455.00
9/25/2026, 11:02:58 PM
2026-10-02Updated
$480.00
10/2/2026, 11:03:28 PM
2026-10-09Next
$465.00
10/2/2026, 11:03:28 PM
2026-10-16
$480.00
10/2/2026, 11:03:28 PM
2026-10-23
$460.00
10/2/2026, 11:03:28 PM
2026-10-30
$480.00
10/2/2026, 11:03:28 PM
2026-11-06
$485.00
10/2/2026, 11:03:28 PM
2026-11-20
$470.00
10/2/2026, 11:03:28 PM
2026-12-18
$410.00
10/2/2026, 11:03:28 PM
2027-01-15
$360.00
10/2/2026, 11:03:28 PM
2027-02-19
$480.00
10/2/2026, 11:03:28 PM
2027-03-19
$500.00
10/2/2026, 11:03:28 PM
2027-04-16
$480.00
10/2/2026, 11:03:28 PM
2027-06-17
$430.00
10/2/2026, 11:03:28 PM
2027-09-17
$460.00
10/2/2026, 11:03:28 PM
Selected expiration: 2026-10-09 at max pain $465.00.
AMAT pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
275
0
114834250
114834250
280
0
110974750
110974750
285
500
107135250
107135750
290
1000
103357250
103358250
295
2000
99609250
99611250
300
3000
95895750
95898750
305
4000
92239250
92243250
310
5000
88587750
88592750
315
6000
84945250
84951250
320
7000
81354750
81361750
325
8500
77784750
77793250
330
10000
74231250
74241250
335
11500
70689750
70701250
340
13000
67156250
67169250
345
16500
63685750
63702250
350
22000
60232250
60254250
355
28500
56794250
56822750
360
35000
53386750
53421750
365
42000
50046250
50088250
370
49000
46724250
46773250
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.