This page reflects CLW 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 — CLW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $15.00 (4.81 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$1.83
±9.2%
Days to Expiry
14
Calendar days
Total Call OI
4,447
Nearest expiry
Total Put OI
874
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$19.81
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, 11:08:37 PM
2026-09-18
$20.00
9/18/2026, 11:08:59 PM
2026-10-16NextUpdated
$15.00
10/2/2026, 11:07:38 PM
2026-11-20
$20.00
10/2/2026, 11:07:38 PM
2027-01-15
$17.50
10/2/2026, 11:07:38 PM
2027-04-16
$17.50
10/2/2026, 11:07:38 PM
Selected expiration: 2026-10-16 at max pain $15.00.
CLW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1076000
1076000
7.5
0
857500
857500
10
0
639250
639250
12.5
250
421000
421250
15
500
253750
254250
17.5
175250
92750
268000
20
350000
19250
369250
22.5
997000
0
997000
25
1919750
0
1919750
30
3887250
0
3887250
35
5860750
0
5860750
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.