This page reflects SGML options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — SGML
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $10.00 (0.44 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$1.23
±12.8%
Days to Expiry
11
Calendar days
Total Call OI
19,471
Nearest expiry
Total Put OI
10,754
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$9.56
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
$11.00
8/21/2026, 11:29:46 PM
2026-09-18
$10.00
9/18/2026, 11:27:07 PM
2026-10-16NextUpdated
$10.00
10/5/2026, 11:30:11 PM
2026-11-20
$10.00
10/5/2026, 11:30:11 PM
2027-01-15
$10.00
10/5/2026, 11:30:11 PM
2027-04-16
$9.00
10/5/2026, 11:30:11 PM
Selected expiration: 2026-10-16 at max pain $10.00.
SGML pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
5400000
5400000
6
500
4336600
4337100
7
2300
3291400
3293700
8
4100
2365300
2369400
9
48400
1655800
1704200
10
266400
1197000
1463400
11
836000
911000
1747000
12
1670400
719900
2390300
13
2649100
576600
3225700
14
3926100
478400
4404500
15
5233600
419800
5653400
16
6661800
372100
7033900
17
8134800
328600
8463400
18
9667600
285100
9952700
19
11228400
248000
11476400
20
12789200
218600
13007800
21
14606500
189700
14796200
22
16429900
160800
16590700
23
18264700
131900
18396600
24
20123500
103400
20226900
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.