This page reflects MRAM 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 — MRAM
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $15.00 (3.83 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$2.77
±14.7%
Days to Expiry
14
Calendar days
Total Call OI
2,909
Nearest expiry
Total Put OI
1,111
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$18.83
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
$17.50
8/21/2026, 11:22:01 PM
2026-09-18
$15.00
9/18/2026, 11:21:04 PM
2026-10-16NextUpdated
$15.00
10/2/2026, 11:22:11 PM
2026-11-20
$17.50
10/2/2026, 11:22:11 PM
2026-12-18
$20.00
10/2/2026, 11:22:11 PM
2027-03-19
$17.50
10/2/2026, 11:22:11 PM
Selected expiration: 2026-10-16 at max pain $15.00.
MRAM pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
1338750
1338750
7.5
500
783750
784250
10
750
506750
507500
12.5
2250
267250
269500
15
6500
106750
113250
17.5
105750
50000
155750
20
385250
24250
409500
22.5
870750
5750
876500
25
1469000
500
1469500
30
2866500
0
2866500
35
4316000
0
4316000
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.