Nearest listed expiration 2026-10-09 shows max pain at $10.00 (0.60 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
±$0.58
±5.5%
Days to Expiry
7
Calendar days
Total Call OI
21,899
Nearest expiry
Total Put OI
8,772
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$10.60
Published close
Consensus
7.0/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$10.50
9/25/2026, 11:21:48 PM
2026-10-02Updated
$10.00
10/2/2026, 11:24:10 PM
2026-10-09Next
$10.00
10/2/2026, 11:24:10 PM
2026-10-16
$11.00
10/2/2026, 11:24:10 PM
2026-10-23
$10.50
10/2/2026, 11:24:10 PM
2026-10-30
$10.00
10/2/2026, 11:24:10 PM
2026-11-06
$10.00
10/2/2026, 11:24:10 PM
2026-11-20
$10.00
10/2/2026, 11:24:10 PM
2026-12-18
$11.00
10/2/2026, 11:24:10 PM
2027-01-15
$10.00
10/2/2026, 11:24:10 PM
2027-03-19
$11.00
10/2/2026, 11:24:10 PM
2027-04-16
$11.00
10/2/2026, 11:24:10 PM
2027-06-17
$12.00
10/2/2026, 11:24:10 PM
Selected expiration: 2026-10-09 at max pain $10.00.
NOK pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
7684400
7684400
2
3000
6824200
6827200
3
8100
5966700
5974800
4
13200
5110700
5123900
5
18500
4254700
4273200
5.5
21750
3826700
3848450
6
25050
3398700
3423750
7
31750
2542700
2574450
7.5
35100
2114750
2149850
8
38450
1689300
1727750
8.5
42050
1267350
1309400
9
48500
862600
911100
9.5
57950
486600
544550
10
99650
198250
297900
10.5
382450
60050
442500
11
835850
22000
857850
11.5
1524900
10650
1535550
12
2427700
4850
2432550
12.5
3403450
2900
3406350
13
4440650
1300
4441950
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.