This page reflects GEF 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 — GEF
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $85.00 (2.82 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$4.60
±5.6%
Days to Expiry
14
Calendar days
Total Call OI
1,161
Nearest expiry
Total Put OI
918
Nearest expiry
P/C OI Ratio
0.79
Put-heavy
Spot Price
$82.18
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
$80.00
8/21/2026, 11:14:41 PM
2026-09-18
$90.00
9/18/2026, 11:13:48 PM
2026-10-16NextUpdated
$85.00
10/2/2026, 11:13:40 PM
2027-01-15
$90.00
10/2/2026, 11:13:40 PM
2027-04-16
$55.00
10/2/2026, 11:13:40 PM
Selected expiration: 2026-10-16 at max pain $85.00.
GEF pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
3791500
3791500
45
0
3334500
3334500
50
500
2880000
2880500
55
1000
2425500
2426500
60
2000
1973500
1975500
65
3000
1522500
1525500
70
4000
1072000
1076000
75
8000
621500
629500
80
47000
175000
222000
85
94500
0
94500
90
178000
0
178000
95
517000
0
517000
100
1097000
0
1097000
105
1677000
0
1677000
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.