This page reflects IAG 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 — IAG
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $20.00 (1.48 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$1.42
±7.7%
Days to Expiry
14
Calendar days
Total Call OI
2,534
Nearest expiry
Total Put OI
4,135
Nearest expiry
P/C OI Ratio
1.63
Put-heavy
Spot Price
$18.52
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
$16.00
8/21/2026, 11:17:03 PM
2026-09-18
$19.00
9/18/2026, 11:16:04 PM
2026-10-16NextUpdated
$20.00
10/2/2026, 11:12:19 PM
2026-11-20
$16.00
10/2/2026, 11:12:19 PM
2026-12-18
$21.00
10/2/2026, 11:12:19 PM
2027-01-15
$5.00
10/2/2026, 11:12:19 PM
2027-03-19
$17.00
10/2/2026, 11:12:19 PM
2027-05-21
$17.00
10/2/2026, 11:12:19 PM
2027-08-20
$17.00
10/2/2026, 11:12:19 PM
Selected expiration: 2026-10-16 at max pain $20.00.
IAG pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
14
0
1875900
1875900
15
500
1463200
1463700
16
3400
1050600
1054000
17
14800
639900
654700
18
28100
348300
376400
19
53000
131600
184600
20
89500
8900
98400
21
172600
2200
174800
22
294500
500
295000
23
473700
0
473700
24
675000
0
675000
25
895300
0
895300
26
1131000
0
1131000
27
1368100
0
1368100
28
1617400
0
1617400
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.