This page reflects EXLS 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 — EXLS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $35.00 (0.75 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$3.08
±8.6%
Days to Expiry
14
Calendar days
Total Call OI
915
Nearest expiry
Total Put OI
10,160
Nearest expiry
P/C OI Ratio
11.10
Put-heavy
Spot Price
$35.75
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
$30.00
8/21/2026, 11:13:48 PM
2026-09-18
$35.00
9/18/2026, 11:13:37 PM
2026-10-16NextUpdated
$35.00
10/2/2026, 11:11:18 PM
2027-01-15
$35.00
10/2/2026, 11:11:18 PM
2027-04-16
$35.00
10/2/2026, 11:11:18 PM
Selected expiration: 2026-10-16 at max pain $35.00.
EXLS pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
17783000
17783000
17.5
500
15243000
15243500
20
2750
12703000
12705750
22.5
5000
10163000
10168000
25
8750
7623000
7631750
30
16250
2543000
2559250
35
161250
3000
164250
40
364750
1000
365750
45
810250
0
810250
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.