Plains All American Pipeline, LClose $23.75EOD only
Max Pain
$24.50
Next expiry Oct 9, 2026
Expected Move
±$0.23
0.9% from close
Price Gap
+0.75
Distance to max pain
IV Rank
49
Middle-high premium
P/C OI
0.22
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Oct 2, 2026 close
End-of-day snapshot
This page reflects PAA 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 — PAA
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $24.50 (0.75 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$24.50
Nearest expiry
Expected Move
±$0.23
±0.9%
Days to Expiry
7
Calendar days
Total Call OI
349
Nearest expiry
Total Put OI
82
Nearest expiry
P/C OI Ratio
0.23
Put-heavy
Spot Price
$23.75
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
$18.50
9/25/2026, 11:22:16 PM
2026-10-02Updated
$15.00
10/2/2026, 11:26:32 PM
2026-10-09Next
$24.50
10/2/2026, 11:26:32 PM
2026-10-16
$25.00
10/2/2026, 11:26:32 PM
2026-10-23
$26.00
10/2/2026, 11:26:32 PM
2026-10-30
$24.00
10/2/2026, 11:26:32 PM
2026-11-20
$22.00
10/2/2026, 11:26:32 PM
2027-01-15
$22.00
10/2/2026, 11:26:32 PM
2027-02-19
$24.00
10/2/2026, 11:26:32 PM
2027-05-21
$25.00
10/2/2026, 11:26:32 PM
2027-08-20
$22.00
10/2/2026, 11:26:32 PM
Selected expiration: 2026-10-09 at max pain $24.50.
PAA pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
74050
74050
16
0
65850
65850
19
900
41250
42150
20
1200
33550
34750
23.5
2250
9050
11300
24
2400
5650
8050
24.5
3200
3850
7050
25
11400
2700
14100
25.5
21000
2050
23050
26
36900
1500
38400
26.5
53200
1150
54350
27
70000
900
70900
27.5
87050
650
87700
28
104100
450
104550
28.5
121500
250
121750
29
138900
200
139100
29.5
156350
150
156500
30
173800
100
173900
30.5
191250
50
191300
31
208700
0
208700
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.