This page reflects MTB 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 — MTB
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $220.00 (0.86 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$9.65
±4.4%
Days to Expiry
14
Calendar days
Total Call OI
1,419
Nearest expiry
Total Put OI
235
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$219.14
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
$240.00
8/21/2026, 11:23:54 PM
2026-09-18
$230.00
9/18/2026, 11:21:28 PM
2026-10-16NextUpdated
$220.00
10/2/2026, 11:23:34 PM
2026-11-20
$240.00
10/2/2026, 11:23:34 PM
2026-12-18
$210.00
10/2/2026, 11:23:34 PM
2027-01-15
$240.00
10/2/2026, 11:23:34 PM
2027-02-19
$210.00
10/2/2026, 11:23:34 PM
2027-03-19
$230.00
10/2/2026, 11:23:34 PM
2027-04-16
$220.00
10/2/2026, 11:23:34 PM
2027-06-17
$220.00
10/2/2026, 11:23:34 PM
2027-09-17
$190.00
10/2/2026, 11:23:34 PM
Selected expiration: 2026-10-16 at max pain $220.00.
MTB pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
135
0
1811000
1811000
150
0
1458500
1458500
155
0
1342500
1342500
160
0
1227500
1227500
170
1000
997500
998500
180
2000
768500
770500
190
3000
553500
556500
195
3500
447500
451000
200
4000
343000
347000
210
8000
147000
155000
220
19000
62000
81000
230
97000
20000
117000
240
500000
15000
515000
250
1445000
10000
1455000
260
2636000
5000
2641000
270
3968000
0
3968000
280
5378000
0
5378000
290
6796000
0
6796000
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.