This page reflects FRO 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 — FRO
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $50.00 (2.74 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$4.50
±8.5%
Days to Expiry
14
Calendar days
Total Call OI
24,791
Nearest expiry
Total Put OI
33,552
Nearest expiry
P/C OI Ratio
1.35
Put-heavy
Spot Price
$52.74
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
$40.00
8/21/2026, 11:15:42 PM
2026-09-18
$55.00
9/18/2026, 11:13:59 PM
2026-10-16NextUpdated
$50.00
10/2/2026, 11:12:04 PM
2026-11-20
$49.20
10/2/2026, 11:12:04 PM
2027-01-15
$39.20
10/2/2026, 11:12:04 PM
2027-02-19
$49.20
10/2/2026, 11:12:04 PM
2027-05-21
$49.20
10/2/2026, 11:12:04 PM
Selected expiration: 2026-10-16 at max pain $50.00.
FRO pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
34.2
0
36469760
36469760
35
0
33822240
33822240
35.2
0
33161440
33161440
36
0
30560000
30560000
36.2
0
29920180
29920180
37
0
27361940
27361940
37.2
0
26722660
26722660
38
0
24196340
24196340
38.2
0
23576580
23576580
39
0
21101620
21101620
39.2
0
20483880
20483880
40
160
18069720
18069880
40.2
200
17466760
17466960
41
760
15081880
15082640
41.2
1000
14491480
14492480
42
24600
12199320
12223920
42.2
30500
11643580
11674080
43
58020
9531100
9589120
43.2
64900
9028240
9093140
44
92980
7045840
7138820
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.