This page reflects BHP 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 — BHP
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $87.50 (1.43 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$87.50
Nearest expiry
Expected Move
±$4.62
±5.4%
Days to Expiry
14
Calendar days
Total Call OI
5,069
Nearest expiry
Total Put OI
8,346
Nearest expiry
P/C OI Ratio
1.65
Put-heavy
Spot Price
$86.07
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
$87.50
8/21/2026, 11:05:29 PM
2026-09-18
$90.00
9/18/2026, 11:06:44 PM
2026-10-16NextUpdated
$87.50
10/2/2026, 11:05:20 PM
2026-11-20
$82.50
10/2/2026, 11:05:20 PM
2026-12-18
$87.50
10/2/2026, 11:05:20 PM
2027-01-15
$80.00
10/2/2026, 11:05:20 PM
2027-02-19
$87.50
10/2/2026, 11:05:20 PM
2027-03-19
$90.00
10/2/2026, 11:05:20 PM
2027-05-21
$105.00
10/2/2026, 11:05:20 PM
2027-06-17
$75.00
10/2/2026, 11:05:20 PM
2027-09-17
$80.00
10/2/2026, 11:05:20 PM
Selected expiration: 2026-10-16 at max pain $87.50.
BHP pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
13897250
13897250
70
0
9720250
9720250
75
3500
5574750
5578250
77.5
9750
3878250
3888000
80
16000
2333250
2349250
82.5
29250
1262500
1291750
85
76500
535750
612250
87.5
166750
311750
478500
90
472000
183500
655500
92.5
944000
91250
1035250
95
1508750
36250
1545000
97.5
2354750
0
2354750
100
3260000
0
3260000
105
5680500
0
5680500
110
8213000
0
8213000
115
10774500
0
10774500
120
13340500
0
13340500
130
18485500
0
18485500
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.