Canadian Natural Resources LimiClose $48.31EOD only
Max Pain
$50.00
Next expiry Oct 9, 2026
Expected Move
±$1.70
3.5% from close
Price Gap
+1.69
Distance to max pain
IV Rank
11
Low premium
P/C OI
0.47
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Oct 5, 2026 close
End-of-day snapshot
This page reflects CNQ 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 — CNQ
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-09 shows max pain at $50.00 (1.69 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$1.70
±3.5%
Days to Expiry
4
Calendar days
Total Call OI
260
Nearest expiry
Total Put OI
3,934
Nearest expiry
P/C OI Ratio
15.13
Put-heavy
Spot Price
$48.31
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
$48.50
9/25/2026, 11:07:05 PM
2026-10-02
$47.50
10/2/2026, 11:09:14 PM
2026-10-09NextUpdated
$50.00
10/5/2026, 11:03:59 PM
2026-10-16
$50.00
10/5/2026, 11:03:59 PM
2026-10-23
$48.00
10/5/2026, 11:03:59 PM
2026-10-30
$47.00
10/5/2026, 11:03:59 PM
2026-11-06
$47.00
10/5/2026, 11:03:59 PM
2026-11-13
$45.00
10/5/2026, 11:03:59 PM
2026-11-20
$52.50
10/5/2026, 11:03:59 PM
2026-12-18
$45.00
10/5/2026, 11:03:59 PM
2027-01-15
$35.00
10/5/2026, 11:03:59 PM
2027-03-19
$45.00
10/5/2026, 11:03:59 PM
Selected expiration: 2026-10-09 at max pain $50.00.
CNQ pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
6376700
6376700
37
0
3625000
3625000
38
0
3232100
3232100
44
0
875300
875300
45
0
483500
483500
45.5
0
289800
289800
46
0
96750
96750
46.5
0
81350
81350
47
0
66000
66000
47.5
50
52000
52050
48
250
40950
41200
48.5
1150
30200
31350
49
3500
19600
23100
49.5
6500
10600
17100
50
10200
3600
13800
51
20300
400
20700
52
32000
200
32200
53
51900
0
51900
54
74000
0
74000
55
96800
0
96800
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.