This page reflects ES 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 — ES
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $70.00 (5.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$2.02
±3.1%
Days to Expiry
14
Calendar days
Total Call OI
3,841
Nearest expiry
Total Put OI
966
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$64.50
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
$75.00
8/21/2026, 11:11:56 PM
2026-09-18
$70.00
9/18/2026, 11:12:13 PM
2026-10-16NextUpdated
$70.00
10/2/2026, 11:09:52 PM
2026-11-20
$65.00
10/2/2026, 11:09:52 PM
2027-01-15
$70.00
10/2/2026, 11:09:52 PM
2027-04-16
$70.00
10/2/2026, 11:09:52 PM
Selected expiration: 2026-10-16 at max pain $70.00.
ES pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
2236500
2236500
45
0
1756500
1756500
50
0
1281500
1281500
55
3000
826500
829500
60
6500
415500
422000
65
16500
98000
114500
70
59000
1000
60000
75
1075500
500
1076000
80
2585000
0
2585000
85
4335500
0
4335500
90
6244000
0
6244000
95
8164000
0
8164000
110
13924000
0
13924000
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.