This page reflects MGNI 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 — MGNI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $23.00 (1.73 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$23.00
Nearest expiry
Expected Move
±$2.15
±8.7%
Days to Expiry
14
Calendar days
Total Call OI
14,301
Nearest expiry
Total Put OI
2,252
Nearest expiry
P/C OI Ratio
0.16
Put-heavy
Spot Price
$24.73
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
$20.00
8/21/2026, 11:21:00 PM
2026-09-18
$22.00
9/18/2026, 11:20:20 PM
2026-10-16NextUpdated
$23.00
10/2/2026, 11:18:04 PM
2026-11-20
$25.00
10/2/2026, 11:18:04 PM
2026-12-18
$20.00
10/2/2026, 11:18:04 PM
2027-01-15
$19.00
10/2/2026, 11:18:04 PM
2027-02-19
$17.00
10/2/2026, 11:18:04 PM
2027-03-19
$20.00
10/2/2026, 11:18:04 PM
2027-04-16
$21.00
10/2/2026, 11:18:04 PM
2027-05-21
$15.00
10/2/2026, 11:18:04 PM
2027-06-17
$22.00
10/2/2026, 11:18:04 PM
Selected expiration: 2026-10-16 at max pain $23.00.
MGNI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
18
0
897600
897600
19
0
673900
673900
20
0
451700
451700
21
42800
272100
314900
22
86400
161200
247600
23
132200
83100
215300
24
192800
40300
233100
25
275800
11700
287500
26
657500
0
657500
27
1609700
0
1609700
28
2836800
0
2836800
29
4196100
0
4196100
30
5563600
0
5563600
31
6968700
0
6968700
32
8398000
0
8398000
33
9827700
0
9827700
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.