This page reflects GIS 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 — GIS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $37.50 (5.49 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.50
Nearest expiry
Expected Move
±$1.85
±5.8%
Days to Expiry
14
Calendar days
Total Call OI
36,249
Nearest expiry
Total Put OI
22,374
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$32.01
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
$37.50
8/21/2026, 11:15:08 PM
2026-09-18
$37.50
9/18/2026, 11:15:05 PM
2026-10-16NextUpdated
$37.50
10/2/2026, 11:14:36 PM
2026-11-20
$35.00
10/2/2026, 11:14:36 PM
2026-12-18
$35.00
10/2/2026, 11:14:36 PM
2027-01-15
$42.50
10/2/2026, 11:14:36 PM
2027-03-19
$35.00
10/2/2026, 11:14:36 PM
2027-04-16
$35.00
10/2/2026, 11:14:36 PM
2027-06-17
$37.50
10/2/2026, 11:14:36 PM
2027-09-17
$35.00
10/2/2026, 11:14:36 PM
Selected expiration: 2026-10-16 at max pain $37.50.
GIS pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
33590000
33590000
22.5
1500
27997750
27999250
25
5750
22436750
22442500
27.5
14500
16901500
16916000
30
23750
11537000
11560750
32.5
91000
6562500
6653500
35
408000
2923500
3331500
37.5
1655500
988000
2643500
40
5540500
225000
5765500
42.5
12147750
51750
12199500
45
20369750
18500
20388250
47.5
29186500
5500
29192000
50
38149500
1750
38151250
52.5
47176750
0
47176750
55
56222000
0
56222000
60
74345500
0
74345500
65
92469000
0
92469000
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.