This page reflects LUV 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 — LUV
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $40.50 (1.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.50
Nearest expiry
Expected Move
±$2.65
±6.3%
Days to Expiry
7
Calendar days
Total Call OI
2,988
Nearest expiry
Total Put OI
1,423
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$42.47
Published close
Consensus
-
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
$40.00
9/25/2026, 11:20:12 PM
2026-10-02Updated
$40.50
10/2/2026, 11:17:34 PM
2026-10-09Next
$40.50
10/2/2026, 11:17:34 PM
2026-10-16
$41.50
10/2/2026, 11:17:34 PM
2026-10-23
$41.00
10/2/2026, 11:17:34 PM
2026-10-30
$41.00
10/2/2026, 11:17:34 PM
2026-11-06
$36.00
10/2/2026, 11:17:34 PM
2026-11-20
$40.00
10/2/2026, 11:17:34 PM
2026-12-18
$40.00
10/2/2026, 11:17:34 PM
2027-01-15
$37.50
10/2/2026, 11:17:34 PM
2027-03-19
$47.50
10/2/2026, 11:17:34 PM
2027-06-17
$45.00
10/2/2026, 11:17:34 PM
2027-09-17
$42.50
10/2/2026, 11:17:34 PM
Selected expiration: 2026-10-09 at max pain $40.50.
LUV pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
28
0
1577500
1577500
30
200
1292900
1293100
32
7200
1008900
1016100
33
10700
867200
877900
34
14200
726000
740200
35
17700
585300
603000
36
21200
448600
469800
36.5
23000
381450
404450
37
24850
315700
340550
37.5
27000
255800
282800
38
29150
205900
235050
38.5
32200
161250
193450
39
35300
122500
157800
39.5
39600
92550
132150
40
43900
67400
111300
40.5
50700
50800
101500
41
70350
35800
106150
41.5
94700
24900
119600
42
128700
15500
144200
42.5
170850
10000
180850
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.