This page reflects PBI 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 — PBI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $14.00 (2.76 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$0.97
±5.8%
Days to Expiry
14
Calendar days
Total Call OI
15,817
Nearest expiry
Total Put OI
467
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$16.76
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, 11:26:13 PM
2026-09-18
$16.00
9/18/2026, 11:27:35 PM
2026-10-16NextUpdated
$14.00
10/2/2026, 11:23:57 PM
2026-11-20
$15.00
10/2/2026, 11:23:57 PM
2026-12-18
$15.00
10/2/2026, 11:23:57 PM
2027-01-15
$7.00
10/2/2026, 11:23:57 PM
2027-04-16
$14.00
10/2/2026, 11:23:57 PM
Selected expiration: 2026-10-16 at max pain $14.00.
PBI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
563400
563400
3
100
516700
516800
4
700
470300
471000
5
1400
425000
426400
7
2800
336000
338800
8
3500
292700
296200
9
4300
252100
256400
10
5100
211500
216600
11
5900
171100
177000
12
7500
130700
138200
13
9100
95900
105000
14
13200
62700
75900
15
87400
34100
121500
16
195100
10700
205800
17
1114000
3900
1117900
18
2204600
2900
2207500
19
3363500
1900
3365400
20
4531200
1000
4532200
21
6037300
600
6037900
22
7612700
300
7613000
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.