This page reflects SMR 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 — SMR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $8.50 (0.75 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.50
Nearest expiry
Expected Move
±$0.56
±7.2%
Days to Expiry
7
Calendar days
Total Call OI
20,249
Nearest expiry
Total Put OI
5,503
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$7.75
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
$8.50
9/25/2026, 11:33:57 PM
2026-10-02Updated
$8.50
10/2/2026, 11:25:49 PM
2026-10-09Next
$8.50
10/2/2026, 11:25:49 PM
2026-10-16
$11.00
10/2/2026, 11:25:49 PM
2026-10-23
$10.00
10/2/2026, 11:25:49 PM
2026-10-30
$9.00
10/2/2026, 11:25:49 PM
2026-11-06
$11.50
10/2/2026, 11:25:49 PM
2026-11-20
$10.00
10/2/2026, 11:25:49 PM
2027-01-15
$10.00
10/2/2026, 11:25:49 PM
2027-02-19
$9.00
10/2/2026, 11:25:49 PM
2027-05-21
$8.00
10/2/2026, 11:25:49 PM
Selected expiration: 2026-10-09 at max pain $8.50.
SMR pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
2589500
2589500
5
200
2039200
2039400
5.5
500
1764050
1764550
6
800
1488900
1489700
6.5
1200
1214750
1215950
7
1600
944550
946150
7.5
3650
692650
696300
8
8500
471250
479750
8.5
101300
335000
436300
9
288700
240650
529350
9.5
641850
175850
817700
10
1080250
114700
1194950
10.5
1622850
64550
1687400
11
2197450
25550
2223000
11.5
2842850
8000
2850850
12
3532500
2150
3534650
12.5
4498300
1550
4499850
13
5472100
950
5473050
13.5
6459500
700
6460200
14
7451300
500
7451800
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.