This page reflects NGL 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 — NGL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $10.00 (6.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$1.40
±8.6%
Days to Expiry
14
Calendar days
Total Call OI
3,821
Nearest expiry
Total Put OI
3,343
Nearest expiry
P/C OI Ratio
0.87
Put-heavy
Spot Price
$16.29
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
$14.00
8/21/2026, 11:21:31 PM
2026-09-18
$15.00
9/18/2026, 11:22:29 PM
2026-10-16NextUpdated
$10.00
10/2/2026, 11:22:24 PM
2026-11-20
$15.00
10/2/2026, 11:22:24 PM
2027-01-15
$15.00
10/2/2026, 11:22:24 PM
2027-04-16
$14.00
10/2/2026, 11:22:24 PM
Selected expiration: 2026-10-16 at max pain $10.00.
NGL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
2210000
2210000
5
0
1875700
1875700
6
1100
1541400
1542500
8
3700
872800
876500
9
5100
538500
543600
10
6500
204200
210700
11
108600
120200
228800
12
211700
36300
248000
13
359900
27800
387700
14
519900
19500
539400
15
702200
13700
715900
16
888500
8400
896900
17
1080700
4200
1084900
18
1293300
100
1293400
19
1513400
0
1513400
20
1745500
0
1745500
21
2113200
0
2113200
22
2490000
0
2490000
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.