This page reflects BEN 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 — BEN
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $32.00 (0.81 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.00
Nearest expiry
Expected Move
±$1.40
±4.3%
Days to Expiry
14
Calendar days
Total Call OI
9,783
Nearest expiry
Total Put OI
2,974
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$32.81
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
$33.00
8/21/2026, 11:05:06 PM
2026-09-18
$34.00
9/18/2026, 11:06:31 PM
2026-10-16NextUpdated
$32.00
10/2/2026, 11:05:12 PM
2026-11-20
$32.00
10/2/2026, 11:05:12 PM
2027-01-15
$27.50
10/2/2026, 11:05:12 PM
2027-04-16
$27.00
10/2/2026, 11:05:12 PM
Selected expiration: 2026-10-16 at max pain $32.00.
BEN pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
4619200
4619200
18
0
3732700
3732700
19
0
3442400
3442400
20
0
3153800
3153800
21
0
2865200
2865200
22
0
2577600
2577600
23
100
2290000
2290100
24
200
2004100
2004300
25
300
1719000
1719300
26
400
1440100
1440500
27
500
1167100
1167600
28
600
896700
897300
29
700
628100
628800
30
800
382600
383400
31
1000
185800
186800
32
8000
51500
59500
33
150800
21500
172300
34
638500
1600
640100
35
1511600
0
1511600
40
6236600
0
6236600
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.