This page reflects BHF 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 — BHF
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $52.50 (2.68 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$52.50
Nearest expiry
Expected Move
±$4.82
±9.7%
Days to Expiry
11
Calendar days
Total Call OI
18,471
Nearest expiry
Total Put OI
1,144
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$49.82
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
$65.00
8/21/2026, 11:05:41 PM
2026-09-18
$60.00
9/18/2026, 11:06:38 PM
2026-10-16NextUpdated
$52.50
10/5/2026, 11:05:51 PM
2026-11-20
$60.00
10/5/2026, 11:05:51 PM
2026-12-18
$55.00
10/5/2026, 11:05:51 PM
2027-01-15
$60.00
10/5/2026, 11:05:51 PM
2027-02-19
$50.00
10/5/2026, 11:05:51 PM
2027-03-19
$45.00
10/5/2026, 11:05:51 PM
2027-04-16
$30.00
10/5/2026, 11:05:51 PM
2027-05-21
$35.00
10/5/2026, 11:05:51 PM
2027-06-17
$65.00
10/5/2026, 11:05:51 PM
Selected expiration: 2026-10-16 at max pain $52.50.
BHF pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
1917250
1917250
35
0
1355250
1355250
40
0
801750
801750
45
0
349750
349750
47.5
250
212000
212250
50
500
78500
79000
52.5
20750
37750
58500
55
43000
18000
61000
57.5
2202000
9000
2211000
60
4375250
0
4375250
65
9568250
0
9568250
70
18660250
0
18660250
75
27895250
0
27895250
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.