This page reflects FE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — FE
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $46.00 (2.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$46.00
Nearest expiry
Expected Move
±$1.07
±2.5%
Days to Expiry
11
Calendar days
Total Call OI
1,847
Nearest expiry
Total Put OI
893
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$43.64
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
$47.00
8/21/2026, 11:13:05 PM
2026-09-18
$45.00
9/18/2026, 11:10:57 PM
2026-10-16NextUpdated
$46.00
10/5/2026, 11:12:51 PM
2026-11-20
$43.00
10/5/2026, 11:12:51 PM
2026-12-18
$50.00
10/5/2026, 11:12:51 PM
2027-01-15
$45.00
10/5/2026, 11:12:51 PM
2027-03-19
$40.00
10/5/2026, 11:12:51 PM
2027-04-16
$45.00
10/5/2026, 11:12:51 PM
2027-06-17
$45.00
10/5/2026, 11:12:51 PM
2027-09-17
$33.00
10/5/2026, 11:12:51 PM
Selected expiration: 2026-10-16 at max pain $46.00.
FE pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
787100
787100
40
500
346100
346600
41
800
262700
263500
42
1100
188700
189800
43
3300
125700
129000
44
6600
78200
84800
45
18000
46400
64400
46
31600
25600
57200
47
130300
7300
137600
48
240300
3400
243700
49
363600
1700
365300
50
491200
0
491200
55
1291700
0
1291700
60
2194200
0
2194200
65
3106700
0
3106700
75
4931700
0
4931700
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.