What is PANW max pain this week?

PANW max pain for the nearest expiration (2026-10-09) is $375.00. Total call open interest: 8,750. Total put open interest: 6,770.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options PANWMax Pain

PANW

Palo Alto Networks, Inc.Close $403.24EOD only

Max Pain

$375.00

Next expiry Oct 9, 2026

Expected Move

±$9.85

2.4% from close

Price Gap

-28.24

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.96

Balanced positioning

Consensus

4/4

Partial coverage

Published snapshot: Oct 2, 2026 close

End-of-day snapshot

This page reflects PANW 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 — PANW

Data as of market close Oct 2, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-10-09 shows max pain at $375.00 (28.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$375.00

Nearest expiry

Expected Move

±$9.85

±2.4%

Days to Expiry

Calendar days

Total Call OI

8,750

Nearest expiry

Total Put OI

6,770

Nearest expiry

P/C OI Ratio

0.77

Put-heavy

Spot Price

$403.24

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	$365.00	9/25/2026, 11:28:23 PM
2026-10-02Updated	$385.00	10/2/2026, 11:24:41 PM
2026-10-09Next	$375.00	10/2/2026, 11:24:41 PM
2026-10-16	$350.00	10/2/2026, 11:24:41 PM
2026-10-23	$365.00	10/2/2026, 11:24:41 PM
2026-10-30	$370.00	10/2/2026, 11:24:41 PM
2026-11-06	$385.00	10/2/2026, 11:24:41 PM
2026-11-20	$320.00	10/2/2026, 11:24:41 PM
2026-12-18	$250.00	10/2/2026, 11:24:41 PM
2027-01-15	$230.00	10/2/2026, 11:24:41 PM
2027-03-19	$290.00	10/2/2026, 11:24:41 PM
2027-06-17	$280.00	10/2/2026, 11:24:41 PM
2027-09-17	$290.00	10/2/2026, 11:24:41 PM

Selected expiration: 2026-10-09 at max pain $375.00.

PANW pain by strike for 2026-10-09 expiration
Strike	Call Pain	Put Pain	Total Pain
75	0	157636250	157636250
80	0	154253750	154253750
85	0	150898250	150898250
105	0	137512250	137512250
115	0	130840250	130840250
135	0	117500250	117500250
140	0	114165750	114165750
145	0	110833250	110833250
150	0	107545750	107545750
155	0	104318750	104318750
160	0	101094750	101094750
165	500	97951250	97951750
175	1500	91680250	91681750
180	2000	88601250	88603250
185	2500	85536750	85539250
190	3000	82475750	82478750
195	3500	79501750	79505250
200	4000	76528250	76532250
205	4500	73565750	73570250
210	5000	70668250	70673250

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.