This page reflects BWA 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 — BWA
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $65.00 (4.48 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$3.47
±5.7%
Days to Expiry
14
Calendar days
Total Call OI
11,272
Nearest expiry
Total Put OI
3,350
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$60.52
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, 11:06:54 PM
2026-09-18
$65.00
9/18/2026, 11:04:12 PM
2026-10-16NextUpdated
$65.00
10/2/2026, 11:06:00 PM
2026-11-20
$65.00
10/2/2026, 11:06:00 PM
2026-12-18
$65.00
10/2/2026, 11:06:00 PM
2027-01-15
$70.00
10/2/2026, 11:06:00 PM
2027-03-19
$60.00
10/2/2026, 11:06:00 PM
2027-04-16
$67.50
10/2/2026, 11:06:00 PM
2027-06-17
$45.00
10/2/2026, 11:06:00 PM
Selected expiration: 2026-10-16 at max pain $65.00.
BWA pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
10405250
10405250
32.5
1500
9570250
9571750
35
3000
8738500
8741500
37.5
5750
7912250
7918000
40
8500
7090500
7099000
42.5
11250
6268750
6280000
45
14000
5447000
5461000
47.5
19500
4626750
4646250
50
26250
3826500
3852750
52.5
49750
3033750
3083500
55
87750
2253250
2341000
57.5
138000
1491000
1629000
60
204250
788000
992250
62.5
323250
500500
823750
65
483000
333000
816000
67.5
1063250
245250
1308500
70
1700750
157500
1858250
72.5
3501500
79250
3580750
75
5378750
26000
5404750
77.5
7314750
14000
7328750
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.