This page reflects DRS 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 — DRS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $39.00 (2.20 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$39.00
Nearest expiry
Expected Move
±$1.98
±5.4%
Days to Expiry
14
Calendar days
Total Call OI
2,710
Nearest expiry
Total Put OI
808
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$36.80
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
$43.00
8/21/2026, 11:10:14 PM
2026-09-18
$38.00
9/18/2026, 11:08:16 PM
2026-10-16NextUpdated
$39.00
10/2/2026, 11:11:55 PM
2026-11-20
$36.00
10/2/2026, 11:11:55 PM
2027-01-15
$37.00
10/2/2026, 11:11:55 PM
2027-04-16
$36.00
10/2/2026, 11:11:55 PM
Selected expiration: 2026-10-16 at max pain $39.00.
DRS pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1230700
1230700
30
30500
827200
857700
31
36600
750600
787200
32
42900
674100
717000
33
49200
598400
647600
34
55500
525100
580600
35
62800
454300
517100
36
71500
404700
476200
37
82700
358100
440800
38
97100
315200
412300
39
122400
286400
408800
40
151100
259200
410300
41
188200
235500
423700
42
244900
213800
458700
43
302100
192500
494600
44
360000
176600
536600
45
420500
160700
581200
46
492000
144800
636800
47
570300
130500
700800
48
652900
118300
771200
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.