This page reflects ARES options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — ARES
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-09 shows max pain at $120.00 (2.87 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$4.55
±3.9%
Days to Expiry
4
Calendar days
Total Call OI
293
Nearest expiry
Total Put OI
421
Nearest expiry
P/C OI Ratio
1.44
Put-heavy
Spot Price
$117.13
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
$128.00
9/25/2026, 11:03:18 PM
2026-10-02
$118.00
10/2/2026, 11:03:13 PM
2026-10-09NextUpdated
$120.00
10/5/2026, 11:04:20 PM
2026-10-16
$130.00
10/5/2026, 11:04:20 PM
2026-10-23
$125.00
10/5/2026, 11:04:20 PM
2026-10-30
$130.00
10/5/2026, 11:04:20 PM
2026-11-06
$118.00
10/5/2026, 11:04:20 PM
2026-11-20
$125.00
10/5/2026, 11:04:20 PM
2026-12-18
$135.00
10/5/2026, 11:04:20 PM
2027-01-15
$140.00
10/5/2026, 11:04:20 PM
2027-02-19
$110.00
10/5/2026, 11:04:20 PM
2027-03-19
$140.00
10/5/2026, 11:04:20 PM
2027-06-17
$140.00
10/5/2026, 11:04:20 PM
2027-09-17
$110.00
10/5/2026, 11:04:20 PM
Selected expiration: 2026-10-09 at max pain $120.00.
ARES pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
797400
797400
105
2000
376400
378400
106
2200
334500
336700
107
2400
293500
295900
108
2600
253500
256100
109
2800
221000
223800
110
3000
190700
193700
111
3200
164200
167400
112
3400
140200
143600
113
3700
117500
121200
114
4200
95100
99300
115
4700
73100
77800
116
5400
62800
68200
117
6100
53500
59600
118
10000
45700
55700
119
14200
38700
52900
120
18600
33200
51800
122
28800
23400
52200
123
34300
18500
52800
124
41400
13900
55300
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.