This page reflects CDW 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 — CDW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $135.00 (1.71 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$9.28
±7.0%
Days to Expiry
14
Calendar days
Total Call OI
4,010
Nearest expiry
Total Put OI
2,977
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$133.29
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
$135.00
8/21/2026, 11:03:34 PM
2026-09-18
$115.00
9/18/2026, 11:07:56 PM
2026-10-16NextUpdated
$135.00
10/2/2026, 11:06:59 PM
2026-11-20
$155.00
10/2/2026, 11:06:59 PM
2026-12-18
$125.00
10/2/2026, 11:06:59 PM
2027-03-19
$140.00
10/2/2026, 11:06:59 PM
Selected expiration: 2026-10-16 at max pain $135.00.
CDW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
12848500
12848500
80
0
11360000
11360000
85
500
9871500
9872000
90
1500
8383000
8384500
95
2500
6895500
6898000
100
4000
5409000
5413000
105
6000
4325000
4331000
110
9000
3268500
3277500
115
13500
2220000
2233500
120
18500
1675000
1693500
125
24000
1205000
1229000
130
32500
755500
788000
135
62500
386500
449000
140
528000
167000
695000
145
1026500
60500
1087000
150
2144500
18500
2163000
155
3541000
6500
3547500
160
5176500
1500
5178000
165
6927000
1000
6928000
170
8806000
500
8806500
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.