This page reflects FOUR 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 — FOUR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (3.83 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.40
±9.4%
Days to Expiry
14
Calendar days
Total Call OI
4,808
Nearest expiry
Total Put OI
6,578
Nearest expiry
P/C OI Ratio
1.37
Put-heavy
Spot Price
$36.17
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
$45.00
8/21/2026, 11:13:12 PM
2026-09-18
$40.00
9/18/2026, 11:14:42 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:12:14 PM
2026-11-20
$40.00
10/2/2026, 11:12:14 PM
2026-12-18
$50.00
10/2/2026, 11:12:14 PM
2027-01-15
$45.00
10/2/2026, 11:12:14 PM
2027-04-16
$45.00
10/2/2026, 11:12:14 PM
Selected expiration: 2026-10-16 at max pain $40.00.
FOUR pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
10297750
10297750
22.5
2500
8653500
8656000
25
5000
7011000
7016000
30
18000
3780000
3798000
35
60000
814500
874500
40
170000
199000
369000
45
643500
110500
754000
50
1849000
93500
1942500
55
3430000
78000
3508000
60
5491000
62500
5553500
65
7746500
47000
7793500
70
10035500
31500
10067000
75
12353500
16000
12369500
80
14706000
1000
14707000
85
17110000
0
17110000
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.