This page reflects CIFR 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 — CIFR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $16.50 (0.79 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.50
Nearest expiry
Expected Move
±$1.41
±8.9%
Days to Expiry
7
Calendar days
Total Call OI
35,788
Nearest expiry
Total Put OI
35,689
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$15.71
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$17.50
9/25/2026, 11:09:43 PM
2026-10-02Updated
$17.00
10/2/2026, 11:04:00 PM
2026-10-09Next
$16.50
10/2/2026, 11:04:00 PM
2026-10-16
$18.00
10/2/2026, 11:04:00 PM
2026-10-23
$16.00
10/2/2026, 11:04:00 PM
2026-10-30
$17.00
10/2/2026, 11:04:00 PM
2026-11-06
$15.00
10/2/2026, 11:04:00 PM
2026-11-20
$17.00
10/2/2026, 11:04:00 PM
2026-12-18
$15.00
10/2/2026, 11:04:00 PM
2027-01-15
$14.00
10/2/2026, 11:04:00 PM
2027-03-19
$17.00
10/2/2026, 11:04:00 PM
Selected expiration: 2026-10-09 at max pain $16.50.
CIFR pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
35198450
35198450
8
1200
24491750
24492950
9
1700
20923850
20925550
10
2500
17356250
17358750
11
3300
13799050
13802350
11.5
4000
12022650
12026650
12
4700
10246900
10251600
12.5
5500
8472500
8478000
13
8300
6719800
6728100
13.5
12250
5607100
5619350
14
17100
4523200
4540300
14.5
34500
3496000
3530500
15
53150
2522500
2575650
15.5
133300
1645400
1778700
16
256850
1051350
1308200
16.5
531900
765150
1297050
17
901150
523000
1424150
17.5
1444200
344400
1788600
18
2018450
204100
2222550
18.5
2763350
107050
2870400
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.