This page reflects CSTM 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 — CSTM
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $25.00 (0.60 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$1.27
±5.2%
Days to Expiry
14
Calendar days
Total Call OI
1,915
Nearest expiry
Total Put OI
429
Nearest expiry
P/C OI Ratio
0.22
Put-heavy
Spot Price
$24.40
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
$26.00
8/21/2026, 11:11:23 PM
2026-09-18
$27.00
9/18/2026, 11:10:26 PM
2026-10-16NextUpdated
$25.00
10/2/2026, 11:07:32 PM
2026-11-20
$27.00
10/2/2026, 11:07:32 PM
2027-01-15
$20.00
10/2/2026, 11:07:32 PM
2027-02-19
$28.00
10/2/2026, 11:07:32 PM
2027-05-21
$25.00
10/2/2026, 11:07:32 PM
Selected expiration: 2026-10-16 at max pain $25.00.
CSTM pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
19
0
233300
233300
20
0
191900
191900
21
0
150600
150600
22
0
109400
109400
23
0
73600
73600
24
0
40100
40100
25
500
14200
14700
26
10000
6100
16100
27
49000
200
49200
28
130600
0
130600
29
245100
0
245100
30
388300
0
388300
31
568300
0
568300
32
757400
0
757400
33
947100
0
947100
34
1138000
0
1138000
36
1520600
0
1520600
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.