This page reflects M 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 — M
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $22.50 (0.23 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$0.98
±4.3%
Days to Expiry
7
Calendar days
Total Call OI
3,024
Nearest expiry
Total Put OI
1,138
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$22.73
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
$21.50
9/25/2026, 11:17:32 PM
2026-10-02Updated
$22.50
10/2/2026, 11:20:21 PM
2026-10-09Next
$22.50
10/2/2026, 11:20:21 PM
2026-10-16
$22.00
10/2/2026, 11:20:21 PM
2026-10-23
$22.00
10/2/2026, 11:20:21 PM
2026-10-30
$22.50
10/2/2026, 11:20:21 PM
2026-11-06
$18.50
10/2/2026, 11:20:21 PM
2026-11-20
$23.00
10/2/2026, 11:20:21 PM
2026-12-18
$22.00
10/2/2026, 11:20:21 PM
2027-01-15
$17.00
10/2/2026, 11:20:21 PM
2027-02-19
$22.00
10/2/2026, 11:20:21 PM
2027-03-19
$23.00
10/2/2026, 11:20:21 PM
2027-05-21
$18.00
10/2/2026, 11:20:21 PM
2027-06-17
$20.00
10/2/2026, 11:20:21 PM
2027-09-17
$20.00
10/2/2026, 11:20:21 PM
Selected expiration: 2026-10-09 at max pain $22.50.
M pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
724150
724150
16
0
610350
610350
17
0
496550
496550
17.5
0
439950
439950
18
0
383900
383900
18.5
0
328500
328500
19
0
273150
273150
19.5
100
218150
218250
20
500
163750
164250
20.5
2100
124650
126750
21
4250
89100
93350
21.5
7900
65700
73600
22
14850
45350
60200
22.5
24100
32400
56500
23
48450
20400
68850
23.5
78650
9900
88550
24
120750
300
121050
24.5
196700
150
196850
25
298150
50
298200
25.5
441200
0
441200
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.