This page reflects IPI 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 — IPI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $39.00 (6.24 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$39.00
Nearest expiry
Expected Move
±$2.38
±7.3%
Days to Expiry
14
Calendar days
Total Call OI
461
Nearest expiry
Total Put OI
256
Nearest expiry
P/C OI Ratio
0.56
Put-heavy
Spot Price
$32.76
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
$35.00
8/21/2026, 11:19:06 PM
2026-09-18
$37.00
9/18/2026, 11:18:19 PM
2026-10-16NextUpdated
$39.00
10/2/2026, 11:15:23 PM
2026-11-20
$36.00
10/2/2026, 11:15:23 PM
2026-12-18
$35.00
10/2/2026, 11:15:23 PM
2027-03-19
$34.00
10/2/2026, 11:15:23 PM
Selected expiration: 2026-10-16 at max pain $39.00.
IPI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
130700
130700
31
100
110400
110500
32
300
92700
93000
33
800
75100
75900
34
2600
58000
60600
35
4400
41600
46000
36
6500
27500
34000
37
8800
17000
25800
38
11200
9300
20500
39
14100
4700
18800
40
20000
200
20200
41
31700
100
31800
42
44800
0
44800
43
62500
0
62500
44
83400
0
83400
45
125800
0
125800
46
170800
0
170800
47
215800
0
215800
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.