This page reflects ELV 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 — ELV
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $390.00 (3.57 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$390.00
Nearest expiry
Expected Move
±$21.30
±5.5%
Days to Expiry
14
Calendar days
Total Call OI
4,071
Nearest expiry
Total Put OI
3,451
Nearest expiry
P/C OI Ratio
0.85
Put-heavy
Spot Price
$386.43
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
$390.00
8/21/2026, 11:13:03 PM
2026-09-18
$390.00
9/18/2026, 11:13:25 PM
2026-10-16NextUpdated
$390.00
10/2/2026, 11:12:09 PM
2026-11-20
$410.00
10/2/2026, 11:12:09 PM
2026-12-18
$400.00
10/2/2026, 11:12:09 PM
2027-01-15
$360.00
10/2/2026, 11:12:09 PM
2027-03-19
$380.00
10/2/2026, 11:12:09 PM
2027-06-17
$390.00
10/2/2026, 11:12:09 PM
2027-09-17
$390.00
10/2/2026, 11:12:09 PM
Selected expiration: 2026-10-16 at max pain $390.00.
ELV pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
56988000
56988000
220
0
53539000
53539000
230
0
50095000
50095000
240
0
46655000
46655000
250
0
43218000
43218000
260
0
39783000
39783000
270
0
36350000
36350000
280
1000
32918000
32919000
290
4000
29487000
29491000
300
7000
26057000
26064000
310
10000
22688000
22698000
320
13000
19361000
19374000
330
16000
16049000
16065000
340
19000
12776000
12795000
350
22000
9523000
9545000
360
26000
6646000
6672000
370
40000
3955000
3995000
380
65000
1726000
1791000
390
142000
844000
986000
400
941000
249000
1190000
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.