This page reflects SHEL 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 — SHEL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $95.00 (1.23 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$1.43
±1.5%
Days to Expiry
7
Calendar days
Total Call OI
1,200
Nearest expiry
Total Put OI
289
Nearest expiry
P/C OI Ratio
0.24
Put-heavy
Spot Price
$96.23
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$93.00
9/25/2026, 11:28:49 PM
2026-10-02Updated
$95.00
10/2/2026, 11:28:30 PM
2026-10-09Next
$95.00
10/2/2026, 11:28:30 PM
2026-10-16
$85.00
10/2/2026, 11:28:30 PM
2026-10-23
$90.00
10/2/2026, 11:28:30 PM
2026-10-30
$95.00
10/2/2026, 11:28:30 PM
2026-11-06
$84.00
10/2/2026, 11:28:30 PM
2026-11-20
$80.00
10/2/2026, 11:28:30 PM
2026-12-18
$85.00
10/2/2026, 11:28:30 PM
2027-01-15
$75.00
10/2/2026, 11:28:30 PM
2027-03-19
$90.00
10/2/2026, 11:28:30 PM
2027-04-16
$90.00
10/2/2026, 11:28:30 PM
2027-06-17
$92.50
10/2/2026, 11:28:30 PM
2027-09-17
$92.50
10/2/2026, 11:28:30 PM
Selected expiration: 2026-10-09 at max pain $95.00.
SHEL pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
1085700
1085700
60
500
941200
941700
75
3500
507700
511200
80
6500
363200
369700
85
9500
221700
231200
86
11100
193800
204900
87
12700
166000
178700
88
14300
138400
152700
89
15900
112700
128600
90
17500
91000
108500
91
19600
70500
90100
92
21700
50200
71900
93
25000
31500
56500
94
28300
13400
41700
95
32200
8900
41100
96
39800
6100
45900
97
48300
3300
51600
98
69400
500
69900
99
99300
200
99500
100
139900
0
139900
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.