This page reflects MKL 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 — MKL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $1780.00 (42.82 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$1780.00
Nearest expiry
Expected Move
±$20.90
±1.2%
Days to Expiry
14
Calendar days
Total Call OI
254
Nearest expiry
Total Put OI
152
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$1737.18
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
$1820.00
8/21/2026, 11:19:14 PM
2026-09-18
$1800.00
9/18/2026, 11:21:23 PM
2026-10-16NextUpdated
$1780.00
10/2/2026, 11:21:22 PM
2026-11-20
$1810.00
10/2/2026, 11:21:22 PM
2027-01-15
$1780.00
10/2/2026, 11:21:22 PM
2027-04-16
$1700.00
10/2/2026, 11:21:22 PM
2027-05-21
$1700.00
10/2/2026, 11:21:22 PM
Selected expiration: 2026-10-16 at max pain $1780.00.
MKL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
1340
0
5828000
5828000
1400
6000
4922000
4928000
1420
10000
4620000
4630000
1440
14000
4320000
4334000
1500
26000
3420000
3446000
1520
30000
3122000
3152000
1560
42000
2526000
2568000
1600
58000
1938000
1996000
1620
66000
1648000
1714000
1680
96000
778000
874000
1700
106000
528000
634000
1720
116000
330000
446000
1740
128000
252000
380000
1760
140000
180000
320000
1780
162000
144000
306000
1800
188000
120000
308000
1820
222000
96000
318000
1840
262000
72000
334000
1860
308000
54000
362000
1880
360000
36000
396000
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.