This page reflects CL 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 — CL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $87.00 (2.74 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$87.00
Nearest expiry
Expected Move
±$1.90
±2.3%
Days to Expiry
7
Calendar days
Total Call OI
553
Nearest expiry
Total Put OI
212
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$84.26
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
$86.00
9/25/2026, 11:09:07 PM
2026-10-02Updated
$86.00
10/2/2026, 11:07:58 PM
2026-10-09Next
$87.00
10/2/2026, 11:07:58 PM
2026-10-16
$87.50
10/2/2026, 11:07:58 PM
2026-10-23
$87.00
10/2/2026, 11:07:58 PM
2026-10-30
$85.00
10/2/2026, 11:07:58 PM
2026-11-06
$82.00
10/2/2026, 11:07:58 PM
2026-11-20
$87.50
10/2/2026, 11:07:58 PM
2026-12-18
$87.50
10/2/2026, 11:07:58 PM
2027-01-15
$85.00
10/2/2026, 11:07:58 PM
2027-02-19
$85.00
10/2/2026, 11:07:58 PM
2027-03-19
$87.50
10/2/2026, 11:07:58 PM
2027-05-21
$82.50
10/2/2026, 11:07:58 PM
2027-06-17
$92.50
10/2/2026, 11:07:58 PM
2027-09-17
$87.50
10/2/2026, 11:07:58 PM
Selected expiration: 2026-10-09 at max pain $87.00.
CL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
505400
505400
79
1900
102600
104500
80
2000
81700
83700
81
2100
62100
64200
82
2500
44200
46700
83
3600
30500
34100
84
4900
17500
22400
85
6600
8500
15100
86
14700
4100
18800
87
24100
1800
25900
88
36100
200
36300
89
49000
100
49100
90
64600
0
64600
91
82200
0
82200
92
100700
0
100700
93
133000
0
133000
94
165700
0
165700
95
213200
0
213200
96
260800
0
260800
97
315800
0
315800
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.