This page reflects PAAS 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 — PAAS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $47.50 (1.99 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$47.50
Nearest expiry
Expected Move
±$1.05
±2.3%
Days to Expiry
7
Calendar days
Total Call OI
1,309
Nearest expiry
Total Put OI
449
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$45.51
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
$48.50
9/25/2026, 11:22:25 PM
2026-10-02Updated
$45.50
10/2/2026, 11:24:02 PM
2026-10-09Next
$47.50
10/2/2026, 11:24:02 PM
2026-10-16
$47.00
10/2/2026, 11:24:02 PM
2026-10-23
$49.00
10/2/2026, 11:24:02 PM
2026-10-30
$48.00
10/2/2026, 11:24:02 PM
2026-11-06
$48.00
10/2/2026, 11:24:02 PM
2026-11-20
$50.00
10/2/2026, 11:24:02 PM
2027-01-15
$40.00
10/2/2026, 11:24:02 PM
2027-03-19
$50.00
10/2/2026, 11:24:02 PM
2027-04-16
$45.00
10/2/2026, 11:24:02 PM
2027-06-17
$45.00
10/2/2026, 11:24:02 PM
Selected expiration: 2026-10-09 at max pain $47.50.
PAAS pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
729900
729900
35
1000
505400
506400
38
2500
370700
373200
39
3000
326100
329100
40
3500
282200
285700
41
6100
239500
245600
42
8700
198700
207400
43
11300
158300
169600
44
13900
122100
136000
44.5
15350
105100
120450
45
16800
88250
105050
45.5
20700
75650
96350
46
24600
63250
87850
46.5
30800
52800
83600
47
37200
42950
80150
47.5
44650
34450
79100
48
56150
26300
82450
49
88150
12700
100850
49.5
106600
9300
115900
50
125750
6400
132150
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.