This page reflects PAR 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 — PAR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $16.00 (1.75 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$1.38
±9.7%
Days to Expiry
14
Calendar days
Total Call OI
3,609
Nearest expiry
Total Put OI
2,506
Nearest expiry
P/C OI Ratio
0.69
Put-heavy
Spot Price
$14.25
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-16
Expiration
Max Pain Strike
Last Updated
2026-08-21
$16.00
8/21/2026, 11:25:25 PM
2026-09-18
$18.00
9/18/2026, 11:26:55 PM
2026-10-16NextUpdated
$16.00
10/2/2026, 11:26:28 PM
2026-11-20
$15.00
10/2/2026, 11:26:28 PM
2026-12-18
$17.50
10/2/2026, 11:26:28 PM
2027-01-15
$16.00
10/2/2026, 11:26:28 PM
2027-04-16
$14.00
10/2/2026, 11:26:28 PM
2027-06-17
$20.00
10/2/2026, 11:26:28 PM
Selected expiration: 2026-10-16 at max pain $16.00.
PAR pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
2656800
2656800
2
2300
2406100
2408400
4
7100
1904700
1911800
5
9500
1691500
1701000
6
11900
1488300
1500200
7
14300
1300200
1314500
9
19100
925000
944100
10
21500
790800
812300
11
24100
663100
687200
12
26700
535400
562100
13
41900
415600
457500
14
58400
359800
418200
15
76800
326000
402800
16
104600
293300
397900
17.5
189050
244250
433300
19
334100
196250
530350
20
448600
164350
612950
21
679600
147350
826950
22.5
1026850
121850
1148700
24
1388500
114800
1503300
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.