This page reflects HRL 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 — HRL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $21.00 (0.75 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$21.00
Nearest expiry
Expected Move
±$0.57
±2.8%
Days to Expiry
7
Calendar days
Total Call OI
2,876
Nearest expiry
Total Put OI
3,792
Nearest expiry
P/C OI Ratio
1.32
Put-heavy
Spot Price
$20.25
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
$20.50
9/25/2026, 11:15:09 PM
2026-10-02Updated
$21.00
10/2/2026, 11:16:25 PM
2026-10-09Next
$21.00
10/2/2026, 11:16:25 PM
2026-10-16
$21.00
10/2/2026, 11:16:25 PM
2026-10-23
$24.00
10/2/2026, 11:16:25 PM
2026-10-30
$24.00
10/2/2026, 11:16:25 PM
2026-11-06
$21.00
10/2/2026, 11:16:25 PM
2026-11-20
$21.00
10/2/2026, 11:16:25 PM
2026-12-18
$21.00
10/2/2026, 11:16:25 PM
2027-01-15
$23.00
10/2/2026, 11:16:25 PM
2027-03-19
$20.00
10/2/2026, 11:16:25 PM
Selected expiration: 2026-10-09 at max pain $21.00.
HRL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
3116700
3116700
13
0
2762800
2762800
18
0
993800
993800
19
200
640000
640200
19.5
300
468350
468650
20
5450
303750
309200
20.5
20150
150000
170150
21
42400
1650
44050
21.5
130500
1400
131900
22
220850
1150
222000
22.5
332650
1000
333650
23
444450
900
445350
24
733150
700
733850
25
1028150
500
1028650
26
1323350
300
1323650
27
1618650
100
1618750
28
1913950
0
1913950
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.