This page reflects HP 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 — HP
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (1.44 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$2.72
±7.1%
Days to Expiry
14
Calendar days
Total Call OI
865
Nearest expiry
Total Put OI
322
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$38.56
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, 11:17:37 PM
2026-09-18
$40.00
9/18/2026, 11:15:37 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:15:31 PM
2026-11-20
$40.00
10/2/2026, 11:15:31 PM
2026-12-18
$27.50
10/2/2026, 11:15:31 PM
2027-01-15
$40.00
10/2/2026, 11:15:31 PM
2027-03-19
$30.00
10/2/2026, 11:15:31 PM
Selected expiration: 2026-10-16 at max pain $40.00.
HP pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
202250
202250
32.5
0
124250
124250
35
500
46250
46750
37.5
1750
24000
25750
40
7750
3500
11250
42.5
32250
1000
33250
45
207250
0
207250
47.5
393750
0
393750
50
594750
0
594750
55
1027250
0
1027250
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.