This page reflects SMMT 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 — SMMT
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $16.50 (0.25 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.50
Nearest expiry
Expected Move
±$1.30
±7.8%
Days to Expiry
7
Calendar days
Total Call OI
2,699
Nearest expiry
Total Put OI
973
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$16.75
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
$16.50
9/25/2026, 11:26:59 PM
2026-10-02Updated
$16.50
10/2/2026, 11:28:20 PM
2026-10-09Next
$16.50
10/2/2026, 11:28:20 PM
2026-10-16
$15.00
10/2/2026, 11:28:20 PM
2026-10-23
$14.00
10/2/2026, 11:28:20 PM
2026-10-30
$15.50
10/2/2026, 11:28:20 PM
2026-11-06
$16.00
10/2/2026, 11:28:20 PM
2026-11-20
$16.00
10/2/2026, 11:28:20 PM
2027-01-15
$15.00
10/2/2026, 11:28:20 PM
2027-03-19
$13.00
10/2/2026, 11:28:20 PM
2027-04-16
$12.00
10/2/2026, 11:28:20 PM
Selected expiration: 2026-10-09 at max pain $16.50.
SMMT pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1244000
1244000
6
100
1120400
1120500
7
500
996900
997400
8
900
874600
875500
8.5
1150
813500
814650
9
1450
752400
753850
9.5
1750
691350
693100
10
2100
630350
632450
10.5
2550
574550
577100
11
3050
518750
521800
11.5
3600
463500
467100
12
4200
408250
412450
12.5
4850
353100
357950
13
5550
298200
303750
13.5
6300
244350
250650
14
7150
192150
199300
14.5
8050
144300
152350
15
9050
101500
110550
15.5
10150
63950
74100
16
11350
30050
41400
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.