This page reflects BURL 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 — BURL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $245.00 (30.34 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$245.00
Nearest expiry
Expected Move
±$6.30
±2.3%
Days to Expiry
7
Calendar days
Total Call OI
536
Nearest expiry
Total Put OI
462
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$275.34
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
$245.00
9/25/2026, 11:06:42 PM
2026-10-02Updated
$295.00
10/2/2026, 11:07:49 PM
2026-10-09Next
$245.00
10/2/2026, 11:07:49 PM
2026-10-16
$260.00
10/2/2026, 11:07:49 PM
2026-10-23
$250.00
10/2/2026, 11:07:49 PM
2026-10-30
$250.00
10/2/2026, 11:07:49 PM
2026-11-20
$250.00
10/2/2026, 11:07:49 PM
2026-12-18
$270.00
10/2/2026, 11:07:49 PM
2027-01-15
$270.00
10/2/2026, 11:07:49 PM
2027-03-19
$280.00
10/2/2026, 11:07:49 PM
Selected expiration: 2026-10-09 at max pain $245.00.
BURL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
165
0
4888750
4888750
190
5000
3301250
3306250
215
10000
1718750
1728750
220
11000
1404250
1415250
225
12000
1118250
1130250
227.5
12500
976000
988500
230
13000
834000
847000
235
17000
683500
700500
237.5
19750
612750
632500
240
22750
547000
569750
242.5
36000
482500
518500
245
49500
418250
467750
247.5
67000
360750
427750
250
84750
303250
388000
252.5
105500
248500
354000
255
127250
198500
325750
257.5
149750
150750
300500
260
172250
103250
275500
262.5
196250
61000
257250
265
228500
36500
265000
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.