This page reflects CGAU options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — CGAU
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $17.50 (4.06 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.50
Nearest expiry
Expected Move
±$2.75
±12.8%
Days to Expiry
11
Calendar days
Total Call OI
5,382
Nearest expiry
Total Put OI
2,158
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$21.56
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
$17.50
8/21/2026, 11:09:08 PM
2026-09-18
$12.50
9/18/2026, 11:08:07 PM
2026-10-16NextUpdated
$17.50
10/5/2026, 11:09:10 PM
2026-11-20
$22.50
10/5/2026, 11:09:10 PM
2027-01-15
$17.50
10/5/2026, 11:09:10 PM
2027-04-16
$22.50
10/5/2026, 11:09:10 PM
Selected expiration: 2026-10-16 at max pain $17.50.
CGAU pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
3360500
3360500
7.5
0
2281500
2281500
10
25250
1742000
1767250
12.5
100500
1203750
1304250
15
179250
665500
844750
17.5
382250
233000
615250
20
949500
53000
1002500
22.5
1738250
2500
1740750
25
2959500
1000
2960500
30
5578500
500
5579000
35
8269500
0
8269500
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.