This page reflects OWL 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 — OWL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $9.50 (0.42 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.50
Nearest expiry
Expected Move
±$0.48
±5.2%
Days to Expiry
7
Calendar days
Total Call OI
2,710
Nearest expiry
Total Put OI
1,776
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$9.08
Published close
Consensus
-
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
$9.50
9/25/2026, 11:25:47 PM
2026-10-02Updated
$9.00
10/2/2026, 11:24:37 PM
2026-10-09Next
$9.50
10/2/2026, 11:24:37 PM
2026-10-16
$10.00
10/2/2026, 11:24:37 PM
2026-10-23
$10.00
10/2/2026, 11:24:37 PM
2026-10-30
$10.00
10/2/2026, 11:24:37 PM
2026-11-06
$9.50
10/2/2026, 11:24:37 PM
2026-11-20
$12.00
10/2/2026, 11:24:37 PM
2026-12-18
$10.00
10/2/2026, 11:24:37 PM
2027-01-15
$12.00
10/2/2026, 11:24:37 PM
2027-02-19
$10.00
10/2/2026, 11:24:37 PM
2027-05-21
$12.00
10/2/2026, 11:24:37 PM
2027-08-20
$12.00
10/2/2026, 11:24:37 PM
Selected expiration: 2026-10-09 at max pain $9.50.
OWL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
991800
991800
5.5
150
725400
725550
8
650
281400
282050
8.5
750
192650
193400
9
950
107450
108400
9.5
29800
32450
62250
10
89850
15900
105750
10.5
177300
8900
186200
11
283550
4050
287600
11.5
394250
300
394550
12
505700
200
505900
12.5
639800
150
639950
13
774650
100
774750
13.5
909900
50
909950
14
1045350
0
1045350
14.5
1180800
0
1180800
16.5
1722800
0
1722800
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.