This page reflects GEMI 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 — GEMI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $5.00 (0.33 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.33
±7.0%
Days to Expiry
7
Calendar days
Total Call OI
2,118
Nearest expiry
Total Put OI
1,219
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$4.67
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, 11:12:46 PM
2026-10-02Updated
$3.00
10/2/2026, 11:12:33 PM
2026-10-09Next
$5.00
10/2/2026, 11:12:33 PM
2026-10-16
$5.00
10/2/2026, 11:12:33 PM
2026-10-23
$5.00
10/2/2026, 11:12:33 PM
2026-10-30
$5.00
10/2/2026, 11:12:33 PM
2026-11-06
$4.00
10/2/2026, 11:12:33 PM
2026-11-20
$5.00
10/2/2026, 11:12:33 PM
2027-01-15
$5.00
10/2/2026, 11:12:33 PM
2027-04-16
$5.00
10/2/2026, 11:12:33 PM
Selected expiration: 2026-10-09 at max pain $5.00.
GEMI pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
431100
431100
1.5
50
370150
370200
2
200
309200
309400
2.5
1600
248250
249850
3
5900
187300
193200
3.5
14350
126350
140700
4
22850
65400
88250
4.5
33300
33400
66700
5
69000
11750
80750
5.5
124850
5050
129900
6
194650
3800
198450
6.5
270250
3100
273350
7
347300
2400
349700
7.5
452450
1850
454300
8
557650
1300
558950
8.5
663500
950
664450
9
769350
600
769950
9.5
875200
400
875600
10
981050
200
981250
10.5
1086900
50
1086950
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.