This page reflects SPIR 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 — SPIR
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $12.00 (0.89 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$1.20
±10.8%
Days to Expiry
14
Calendar days
Total Call OI
2,916
Nearest expiry
Total Put OI
1,574
Nearest expiry
P/C OI Ratio
0.54
Put-heavy
Spot Price
$11.11
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
$12.00
8/21/2026, 11:25:00 PM
2026-09-18
$12.00
9/18/2026, 11:34:00 PM
2026-10-16NextUpdated
$12.00
10/2/2026, 11:31:56 PM
2026-11-20
$16.00
10/2/2026, 11:31:56 PM
2027-01-15
$12.00
10/2/2026, 11:31:56 PM
2027-02-19
$10.00
10/2/2026, 11:31:56 PM
2027-05-21
$12.00
10/2/2026, 11:31:56 PM
Selected expiration: 2026-10-16 at max pain $12.00.
SPIR pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1594100
1594100
2
100
1436700
1436800
6
500
807100
807600
7
600
650000
650600
8
1900
494500
496400
9
3200
340600
343800
10
4600
237300
241900
11
10300
141800
152100
12
17100
108500
125600
13
63600
81700
145300
14
123200
59100
182300
15
202100
38900
241000
16
304700
23800
328500
17
434000
14100
448100
18
576300
4900
581200
19
750000
800
750800
20
936500
600
937100
21
1154100
400
1154500
22
1384000
200
1384200
23
1629900
0
1629900
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.