This page reflects CVI 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 — CVI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $47.50 (7.33 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$47.50
Nearest expiry
Expected Move
±$5.80
±10.6%
Days to Expiry
14
Calendar days
Total Call OI
1,236
Nearest expiry
Total Put OI
1,173
Nearest expiry
P/C OI Ratio
0.95
Put-heavy
Spot Price
$54.83
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
$32.50
8/21/2026, 11:09:26 PM
2026-09-18
$32.50
9/18/2026, 11:11:39 PM
2026-10-16NextUpdated
$47.50
10/2/2026, 11:08:27 PM
2026-11-20
$45.00
10/2/2026, 11:08:27 PM
2026-12-18
$35.00
10/2/2026, 11:08:27 PM
2027-01-15
$30.00
10/2/2026, 11:08:27 PM
2027-03-19
$30.00
10/2/2026, 11:08:27 PM
Selected expiration: 2026-10-16 at max pain $47.50.
CVI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
32.5
0
1373000
1373000
35
0
1081750
1081750
37.5
2750
848500
851250
40
23500
640750
664250
42.5
92750
452500
545250
45
172000
307500
479500
47.5
270250
188250
458500
50
386250
110000
496250
55
657250
43000
700250
60
1178250
500
1178750
65
1789250
0
1789250
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.