This page reflects KEY 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 — KEY
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $21.00 (0.92 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
±$0.82
±4.1%
Days to Expiry
14
Calendar days
Total Call OI
8,995
Nearest expiry
Total Put OI
3,210
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$20.08
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
$23.00
8/21/2026, 11:14:58 PM
2026-09-18
$22.00
9/18/2026, 11:17:46 PM
2026-10-16NextUpdated
$21.00
10/2/2026, 11:18:43 PM
2026-11-20
$22.00
10/2/2026, 11:18:43 PM
2026-12-18
$21.00
10/2/2026, 11:18:43 PM
2027-01-15
$20.00
10/2/2026, 11:18:43 PM
2027-03-19
$20.00
10/2/2026, 11:18:43 PM
2027-06-17
$22.00
10/2/2026, 11:18:43 PM
2027-09-17
$15.00
10/2/2026, 11:18:43 PM
Selected expiration: 2026-10-16 at max pain $21.00.
KEY pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
2576800
2576800
14
1800
2255900
2257700
16
5400
1615900
1621300
17
7200
1301400
1308600
18
9000
992000
1001000
19
10800
683300
694100
20
12900
379100
392000
21
39900
128300
168200
22
222400
1700
224100
23
868600
0
868600
24
1625500
0
1625500
25
2423600
0
2423600
26
3259700
0
3259700
27
4159000
0
4159000
28
5058300
0
5058300
29
5957700
0
5957700
30
6857200
0
6857200
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.