This page reflects HL 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 — HL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $18.00 (0.80 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$18.00
Nearest expiry
Expected Move
±$0.94
±5.5%
Days to Expiry
7
Calendar days
Total Call OI
2,906
Nearest expiry
Total Put OI
4,011
Nearest expiry
P/C OI Ratio
1.38
Put-heavy
Spot Price
$17.20
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
$18.50
9/25/2026, 11:18:10 PM
2026-10-02Updated
$17.00
10/2/2026, 11:15:35 PM
2026-10-09Next
$18.00
10/2/2026, 11:15:35 PM
2026-10-16
$18.00
10/2/2026, 11:15:35 PM
2026-10-23
$18.50
10/2/2026, 11:15:35 PM
2026-10-30
$18.00
10/2/2026, 11:15:35 PM
2026-11-06
$18.50
10/2/2026, 11:15:35 PM
2026-11-20
$19.00
10/2/2026, 11:15:35 PM
2026-12-18
$18.00
10/2/2026, 11:15:35 PM
2027-01-15
$12.00
10/2/2026, 11:15:35 PM
2027-03-19
$18.00
10/2/2026, 11:15:35 PM
Selected expiration: 2026-10-09 at max pain $18.00.
HL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
1999400
1999400
13
100
1598300
1598400
14
200
1197400
1197600
14.5
250
1001000
1001250
15
300
806050
806350
15.5
850
612700
613550
16
1550
424150
425700
16.5
5550
312800
318350
17
9550
210150
219700
17.5
18300
134200
152500
18
40700
68400
109100
18.5
74100
39500
113600
19
139500
17700
157200
19.5
215500
8150
223650
20
297250
2250
299500
20.5
389750
2000
391750
21
486300
1800
488100
21.5
594400
1600
596000
22
707250
1400
708650
22.5
830050
1200
831250
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.