This page reflects SJM 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 — SJM
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $120.00 (2.81 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$4.72
±4.0%
Days to Expiry
14
Calendar days
Total Call OI
3,163
Nearest expiry
Total Put OI
1,422
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$117.19
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
$120.00
8/21/2026, 11:30:27 PM
2026-09-18
$120.00
9/18/2026, 11:33:00 PM
2026-10-16NextUpdated
$120.00
10/2/2026, 11:24:34 PM
2026-11-20
$120.00
10/2/2026, 11:24:34 PM
2027-01-15
$110.00
10/2/2026, 11:24:34 PM
2027-04-16
$135.00
10/2/2026, 11:24:34 PM
Selected expiration: 2026-10-16 at max pain $120.00.
SJM pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
8769000
8769000
60
3000
7347000
7350000
65
4500
6638500
6643000
70
6000
5931500
5937500
75
7500
5233000
5240500
80
9000
4534500
4543500
85
10500
3842000
3852500
90
12000
3172500
3184500
95
13500
2527000
2540500
100
17000
1920000
1937000
105
47000
1331500
1378500
110
104500
788000
892500
115
236500
366000
602500
120
441000
135500
576500
125
1177000
25000
1202000
130
2167000
0
2167000
135
3426500
0
3426500
140
4779000
0
4779000
145
6294000
0
6294000
150
7834500
0
7834500
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.