This page reflects PPL 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 — PPL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $34.00 (1.20 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$34.00
Nearest expiry
Expected Move
±$0.90
±2.7%
Days to Expiry
14
Calendar days
Total Call OI
12,368
Nearest expiry
Total Put OI
1,640
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$32.80
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
$36.00
8/21/2026, 11:27:10 PM
2026-09-18
$34.00
9/18/2026, 11:28:50 PM
2026-10-16NextUpdated
$34.00
10/2/2026, 11:25:08 PM
2026-11-20
$33.00
10/2/2026, 11:25:08 PM
2027-01-15
$33.00
10/2/2026, 11:25:08 PM
2027-04-16
$33.00
10/2/2026, 11:25:08 PM
2027-06-17
$33.00
10/2/2026, 11:25:08 PM
Selected expiration: 2026-10-16 at max pain $34.00.
PPL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1143600
1143600
27
3000
832200
835200
28
4500
676600
681100
29
6000
524400
530400
30
7600
373500
381100
31
9500
227400
236900
32
11700
133700
145400
33
22800
75700
98500
34
56500
41800
98300
35
113300
25400
138700
36
244300
18900
263200
37
754700
14200
768900
38
1364900
9500
1374400
39
2120800
4800
2125600
40
3152500
600
3153100
41
4324500
400
4324900
42
5505100
200
5505300
43
6693300
100
6693400
44
7888600
0
7888600
45
9088800
0
9088800
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.