This page reflects FMC 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 — FMC
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $10.00 (1.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$1.15
±13.6%
Days to Expiry
14
Calendar days
Total Call OI
12,159
Nearest expiry
Total Put OI
4,692
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$8.44
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
$10.00
8/21/2026, 11:13:26 PM
2026-09-18
$10.00
9/18/2026, 11:13:12 PM
2026-10-16NextUpdated
$10.00
10/2/2026, 11:13:07 PM
2026-11-20
$10.00
10/2/2026, 11:13:07 PM
2027-01-15
$12.50
10/2/2026, 11:13:07 PM
2027-04-16
$7.50
10/2/2026, 11:13:07 PM
Selected expiration: 2026-10-16 at max pain $10.00.
FMC pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
3402750
3402750
5
0
2229750
2229750
7.5
1500
1064750
1066250
10
4250
109250
113500
12.5
677500
30250
707750
15
1916000
5250
1921250
17.5
3714000
2500
3716500
20
5805250
0
5805250
22.5
8516500
0
8516500
25
11357000
0
11357000
27.5
14366500
0
14366500
30
17405000
0
17405000
32.5
20443500
0
20443500
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.