Nearest listed expiration 2026-10-09 shows max pain at $32.00 (0.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.00
Nearest expiry
Expected Move
±$1.46
±4.5%
Days to Expiry
7
Calendar days
Total Call OI
47,485
Nearest expiry
Total Put OI
8,247
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$32.36
Published close
Consensus
5.0/10
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
$33.00
9/25/2026, 11:09:34 PM
2026-10-02Updated
$32.00
10/2/2026, 11:07:46 PM
2026-10-09Next
$32.00
10/2/2026, 11:07:46 PM
2026-10-16
$34.00
10/2/2026, 11:07:46 PM
2026-10-23
$33.00
10/2/2026, 11:07:46 PM
2026-10-30
$32.00
10/2/2026, 11:07:46 PM
2026-11-06
$32.00
10/2/2026, 11:07:46 PM
2026-11-20
$32.50
10/2/2026, 11:07:46 PM
2026-12-18
$40.00
10/2/2026, 11:07:46 PM
2027-01-15
$37.50
10/2/2026, 11:07:46 PM
2027-03-19
$37.50
10/2/2026, 11:07:46 PM
2027-06-17
$35.00
10/2/2026, 11:07:46 PM
2027-09-17
$32.50
10/2/2026, 11:07:46 PM
Selected expiration: 2026-10-09 at max pain $32.00.
CMG pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
9597250
9597250
25
500
5475250
5475750
26
600
4652850
4653450
27
700
3831050
3831750
28
800
3010050
3010850
29
900
2212050
2212950
30
1000
1445950
1446950
30.5
9250
1149500
1158750
31
24450
875950
900400
31.5
46750
650000
696750
32
73150
483200
556350
32.5
223650
356950
580600
33
423950
250450
674400
33.5
2276750
173950
2450700
34
4153250
101600
4254850
34.5
6238650
71350
6310000
35
8346450
43300
8389750
35.5
10566900
21250
10588150
36
12798150
2300
12800450
36.5
15094900
1350
15096250
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.