This page reflects FRMI 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 — FRMI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $4.50 (0.47 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.50
Nearest expiry
Expected Move
±$0.38
±9.3%
Days to Expiry
7
Calendar days
Total Call OI
9,675
Nearest expiry
Total Put OI
8,860
Nearest expiry
P/C OI Ratio
0.92
Put-heavy
Spot Price
$4.03
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
$5.00
9/25/2026, 11:10:33 PM
2026-10-02Updated
$4.50
10/2/2026, 11:12:10 PM
2026-10-09Next
$4.50
10/2/2026, 11:12:10 PM
2026-10-16
$6.00
10/2/2026, 11:12:10 PM
2026-10-23
$5.00
10/2/2026, 11:12:10 PM
2026-10-30
$5.50
10/2/2026, 11:12:10 PM
2026-11-06
$4.50
10/2/2026, 11:12:10 PM
2026-11-20
$6.00
10/2/2026, 11:12:10 PM
2026-12-18
$6.00
10/2/2026, 11:12:10 PM
2027-01-15
$6.00
10/2/2026, 11:12:10 PM
2027-02-19
$6.00
10/2/2026, 11:12:10 PM
2027-05-21
$6.00
10/2/2026, 11:12:10 PM
2027-06-17
$6.00
10/2/2026, 11:12:10 PM
Selected expiration: 2026-10-09 at max pain $4.50.
FRMI pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
2762200
2762200
1.5
1900
2319200
2321100
2
3850
1876200
1880050
3
8050
990200
998250
3.5
10200
547200
557400
4
12700
105000
117700
4.5
48650
42450
91100
5
133950
19100
153050
5.5
267250
11900
279150
6
435150
7200
442350
6.5
834300
4300
838600
7
1252150
1900
1254050
7.5
1694650
650
1695300
8
2152900
550
2153450
8.5
2634650
450
2635100
9
3118000
350
3118350
9.5
3601550
250
3601800
10
4085200
150
4085350
10.5
4568950
50
4569000
11
5052700
0
5052700
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.