This page reflects CAI 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 — CAI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $25.00 (3.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$3.42
±12.1%
Days to Expiry
14
Calendar days
Total Call OI
2,845
Nearest expiry
Total Put OI
1,346
Nearest expiry
P/C OI Ratio
0.47
Put-heavy
Spot Price
$28.30
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
$15.00
8/21/2026, 11:04:04 PM
2026-09-18
$22.50
9/18/2026, 11:07:45 PM
2026-10-16NextUpdated
$25.00
10/2/2026, 11:08:04 PM
2026-11-20
$30.00
10/2/2026, 11:08:04 PM
2026-12-18
$17.50
10/2/2026, 11:08:04 PM
2027-01-15
$22.50
10/2/2026, 11:08:04 PM
2027-03-19
$22.50
10/2/2026, 11:08:04 PM
2027-04-16
$30.00
10/2/2026, 11:08:04 PM
Selected expiration: 2026-10-16 at max pain $25.00.
CAI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
2387750
2387750
7.5
1500
2051250
2052750
10
3000
1714750
1717750
12.5
7250
1378250
1385500
15
11500
1068250
1079750
17.5
17250
790250
807500
20
52750
538000
590750
22.5
114750
287000
401750
25
181500
38000
219500
30
428500
1500
430000
35
1273500
0
1273500
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.