This page reflects PHVS 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 — PHVS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (8.81 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.33
±10.7%
Days to Expiry
14
Calendar days
Total Call OI
7,336
Nearest expiry
Total Put OI
14,508
Nearest expiry
P/C OI Ratio
1.98
Put-heavy
Spot Price
$31.19
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
$35.00
8/21/2026, 11:27:04 PM
2026-09-18
$40.00
9/18/2026, 11:28:23 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:27:07 PM
2026-11-20
$35.00
10/2/2026, 11:27:07 PM
2026-12-18
$35.00
10/2/2026, 11:27:07 PM
2027-01-15
$35.00
10/2/2026, 11:27:07 PM
2027-03-19
$22.50
10/2/2026, 11:27:07 PM
Selected expiration: 2026-10-16 at max pain $40.00.
PHVS pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
9207250
9207250
20
0
7393000
7393000
22.5
0
5635250
5635250
25
0
3922500
3922500
30
2000
506000
508000
35
10000
162000
172000
40
116500
0
116500
45
311500
0
311500
50
873500
0
873500
55
4537500
0
4537500
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.