This page reflects CBZ 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 — CBZ
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $45.00 (9.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$0.03
±0.1%
Days to Expiry
14
Calendar days
Total Call OI
1,308
Nearest expiry
Total Put OI
613
Nearest expiry
P/C OI Ratio
0.47
Put-heavy
Spot Price
$54.69
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
$45.00
8/21/2026, 11:07:07 PM
2026-09-18
$50.00
9/18/2026, 11:04:47 PM
2026-10-16NextUpdated
$45.00
10/2/2026, 11:07:24 PM
2027-01-15
$50.00
10/2/2026, 11:07:24 PM
2027-04-16
$12.50
10/2/2026, 11:07:24 PM
Selected expiration: 2026-10-16 at max pain $45.00.
CBZ pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
557000
557000
15
0
480500
480500
20
500
332500
333000
22.5
750
258500
259250
25
1750
184500
186250
30
3750
113500
117250
35
5750
82500
88250
40
7750
51500
59250
45
9750
25500
35250
50
65250
0
65250
55
281750
0
281750
60
918250
0
918250
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.