This page reflects BTDR 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 — BTDR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $11.00 (0.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.93
±8.4%
Days to Expiry
7
Calendar days
Total Call OI
9,647
Nearest expiry
Total Put OI
13,266
Nearest expiry
P/C OI Ratio
1.38
Put-heavy
Spot Price
$11.02
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
$10.50
9/25/2026, 11:06:34 PM
2026-10-02Updated
$11.50
10/2/2026, 11:06:01 PM
2026-10-09Next
$11.00
10/2/2026, 11:06:01 PM
2026-10-16
$12.00
10/2/2026, 11:06:01 PM
2026-10-23
$11.50
10/2/2026, 11:06:01 PM
2026-10-30
$12.50
10/2/2026, 11:06:01 PM
2026-11-06
$11.50
10/2/2026, 11:06:01 PM
2026-11-20
$12.00
10/2/2026, 11:06:01 PM
2026-12-18
$10.00
10/2/2026, 11:06:01 PM
2027-01-15
$12.50
10/2/2026, 11:06:01 PM
2027-03-19
$10.00
10/2/2026, 11:06:01 PM
Selected expiration: 2026-10-09 at max pain $11.00.
BTDR pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
9162900
9162900
5
17000
6509700
6526700
6
27500
5183100
5210600
6.5
38400
4519800
4558200
7
49300
3856650
3905950
7.5
60450
3193900
3254350
8
71700
2532650
2604350
8.5
82950
1876550
1959500
9
94450
1220850
1315300
9.5
106100
948100
1054200
10
117950
695050
813000
10.5
135500
466050
601550
11
155650
320000
475650
11.5
262800
225450
488250
12
468200
147100
615300
12.5
678950
110900
789850
13
891550
79600
971150
13.5
1117100
53550
1170650
14
1348550
28000
1376550
14.5
1796050
2550
1798600
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.