This page reflects CNX 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 — CNX
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $34.00 (2.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$34.00
Nearest expiry
Expected Move
±$1.45
±4.6%
Days to Expiry
14
Calendar days
Total Call OI
933
Nearest expiry
Total Put OI
1,986
Nearest expiry
P/C OI Ratio
2.13
Put-heavy
Spot Price
$31.50
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
$35.00
8/21/2026, 11:08:46 PM
2026-09-18
$35.00
9/18/2026, 11:08:21 PM
2026-10-16NextUpdated
$34.00
10/2/2026, 11:08:33 PM
2026-11-20
$30.00
10/2/2026, 11:08:33 PM
2026-12-18
$32.00
10/2/2026, 11:08:33 PM
2027-01-15
$31.00
10/2/2026, 11:08:33 PM
2027-04-16
$31.00
10/2/2026, 11:08:33 PM
Selected expiration: 2026-10-16 at max pain $34.00.
CNX pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1573400
1573400
27
0
1176600
1176600
28
0
978200
978200
29
0
780200
780200
30
0
582800
582800
31
1300
398600
399900
32
13600
220300
233900
33
26100
94400
120500
34
47300
25000
72300
35
81000
11500
92500
36
123200
9200
132400
37
168900
7000
175900
38
219500
5000
224500
39
286100
3000
289100
40
355200
2000
357200
41
432600
1000
433600
42
510800
0
510800
43
589400
0
589400
44
668200
0
668200
45
750500
0
750500
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.