This page reflects NBR 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 — NBR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $85.00 (5.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$6.83
±8.6%
Days to Expiry
14
Calendar days
Total Call OI
379
Nearest expiry
Total Put OI
960
Nearest expiry
P/C OI Ratio
2.53
Put-heavy
Spot Price
$79.64
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
$80.00
8/21/2026, 11:19:57 PM
2026-09-18
$90.00
9/18/2026, 11:24:26 PM
2026-10-16NextUpdated
$85.00
10/2/2026, 11:18:23 PM
2026-11-20
$90.00
10/2/2026, 11:18:23 PM
2027-01-15
$80.00
10/2/2026, 11:18:23 PM
2027-04-16
$50.00
10/2/2026, 11:18:23 PM
Selected expiration: 2026-10-16 at max pain $85.00.
NBR pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
3490500
3490500
40
0
3015500
3015500
45
0
2541000
2541000
50
0
2067500
2067500
60
0
1120500
1120500
65
1500
822000
823500
70
4000
550000
554000
75
10000
290500
300500
80
19000
33500
52500
85
38500
12500
51000
90
77000
4000
81000
95
122500
3500
126000
100
209000
3000
212000
105
327000
2500
329500
110
456500
2000
458500
115
592500
1500
594000
120
729500
1000
730500
125
867500
500
868000
130
1005500
0
1005500
135
1193500
0
1193500
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.