This page reflects ET 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 — ET
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $20.50 (0.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.50
Nearest expiry
Expected Move
±$0.42
±2.0%
Days to Expiry
7
Calendar days
Total Call OI
6,419
Nearest expiry
Total Put OI
3,835
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$20.47
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$20.50
9/25/2026, 11:08:54 PM
2026-10-02Updated
$20.00
10/2/2026, 11:13:01 PM
2026-10-09Next
$20.50
10/2/2026, 11:13:01 PM
2026-10-16
$20.00
10/2/2026, 11:13:01 PM
2026-10-23
$20.00
10/2/2026, 11:13:01 PM
2026-10-30
$20.00
10/2/2026, 11:13:01 PM
2026-11-06
$20.50
10/2/2026, 11:13:01 PM
2026-11-20
$20.00
10/2/2026, 11:13:01 PM
2026-12-18
$20.00
10/2/2026, 11:13:01 PM
2027-01-15
$17.00
10/2/2026, 11:13:01 PM
2027-03-19
$20.00
10/2/2026, 11:13:01 PM
2027-04-16
$21.00
10/2/2026, 11:13:01 PM
2027-06-17
$20.00
10/2/2026, 11:13:01 PM
Selected expiration: 2026-10-09 at max pain $20.50.
ET pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
15.5
0
1774950
1774950
16
100
1583200
1583300
16.5
200
1391950
1392150
17
400
1200700
1201100
18
800
818200
819000
18.5
1050
627450
628500
19
1350
453850
455200
19.5
1850
284150
286000
20
2350
178850
181200
20.5
27350
93000
120350
21
77400
44100
121500
21.5
149200
100
149300
22
298900
50
298950
22.5
577950
0
577950
23
895550
0
895550
23.5
1216100
0
1216100
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.