Nearest listed expiration 2026-10-09 shows max pain at $77.00 (0.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$77.00
Nearest expiry
Expected Move
±$0.39
±0.5%
Days to Expiry
7
Calendar days
Total Call OI
5,586
Nearest expiry
Total Put OI
52,475
Nearest expiry
P/C OI Ratio
9.39
Put-heavy
Spot Price
$76.91
Published close
Consensus
4.5/10
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
$78.00
9/25/2026, 11:15:15 PM
2026-10-02Updated
$77.50
10/2/2026, 11:17:15 PM
2026-10-09Next
$77.00
10/2/2026, 11:17:15 PM
2026-10-16
$79.00
10/2/2026, 11:17:15 PM
2026-10-23
$78.00
10/2/2026, 11:17:15 PM
2026-10-30
$78.00
10/2/2026, 11:17:15 PM
2026-11-06
$78.00
10/2/2026, 11:17:15 PM
2026-11-20
$79.00
10/2/2026, 11:17:15 PM
2026-12-18
$79.00
10/2/2026, 11:17:15 PM
2027-01-15
$79.00
10/2/2026, 11:17:15 PM
2027-02-19
$78.00
10/2/2026, 11:17:15 PM
2027-03-19
$81.00
10/2/2026, 11:17:15 PM
2027-04-16
$79.00
10/2/2026, 11:17:15 PM
2027-05-21
$80.00
10/2/2026, 11:17:15 PM
2027-06-17
$76.00
10/2/2026, 11:17:15 PM
2027-07-16
$79.00
10/2/2026, 11:17:15 PM
2027-08-20
$80.00
10/2/2026, 11:17:15 PM
2027-09-17
$77.00
10/2/2026, 11:17:15 PM
Selected expiration: 2026-10-09 at max pain $77.00.
HYG pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
31313450
31313450
71
0
26086450
26086450
72
0
20880050
20880050
73
0
15675250
15675250
74.5
0
7869400
7869400
75
0
5278150
5278150
75.5
0
2694700
2694700
76
50
123750
123800
76.5
3100
71450
74550
77
8250
31300
39550
77.5
154550
5100
159650
78
335150
3100
338250
78.5
528750
1400
530150
79
743750
0
743750
79.5
964350
0
964350
80
1185800
0
1185800
80.5
1442500
0
1442500
81
1699550
0
1699550
81.5
1978850
0
1978850
82
2258150
0
2258150
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.