This page reflects NEXT 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 — NEXT
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $7.00 (0.52 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.00
Nearest expiry
Expected Move
±$0.73
±11.2%
Days to Expiry
14
Calendar days
Total Call OI
18,609
Nearest expiry
Total Put OI
6,059
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$6.48
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
$7.00
8/21/2026, 11:24:09 PM
2026-09-18
$7.00
9/18/2026, 11:24:05 PM
2026-10-16NextUpdated
$7.00
10/2/2026, 11:22:13 PM
2026-11-20
$7.00
10/2/2026, 11:22:13 PM
2027-01-15
$7.00
10/2/2026, 11:22:13 PM
2027-04-16
$8.00
10/2/2026, 11:22:13 PM
Selected expiration: 2026-10-16 at max pain $7.00.
NEXT pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
3533700
3533700
2
400
2927800
2928200
3
1100
2322000
2323100
4
2400
1717200
1719600
5
7100
1145300
1152400
6
16100
612800
628900
7
49900
161700
211600
8
689000
16000
705000
9
2121200
400
2121600
10
3673400
100
3673500
11
5271100
0
5271100
12
6868800
0
6868800
13
8519400
0
8519400
15
11820600
0
11820600
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.