This page reflects ITW 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 — ITW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $270.00 (7.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$270.00
Nearest expiry
Expected Move
±$8.30
±3.2%
Days to Expiry
14
Calendar days
Total Call OI
1,549
Nearest expiry
Total Put OI
288
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$262.92
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
$270.00
8/21/2026, 11:18:11 PM
2026-09-18
$270.00
9/18/2026, 11:18:50 PM
2026-10-16NextUpdated
$270.00
10/2/2026, 11:17:59 PM
2026-11-20
$270.00
10/2/2026, 11:17:59 PM
2026-12-18
$270.00
10/2/2026, 11:17:59 PM
2027-01-15
$260.00
10/2/2026, 11:17:59 PM
2027-03-19
$260.00
10/2/2026, 11:17:59 PM
Selected expiration: 2026-10-16 at max pain $270.00.
ITW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
175
0
2518000
2518000
180
0
2374000
2374000
230
0
934000
934000
240
0
646000
646000
250
0
373000
373000
260
0
134000
134000
270
29000
4000
33000
280
1027000
0
1027000
290
2262000
0
2262000
300
3745000
0
3745000
310
5290000
0
5290000
320
6839000
0
6839000
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.