Nearest listed expiration 2026-10-05 shows max pain at $763.00 (6.64 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$763.00
Nearest expiry
Expected Move
±$3.92
±0.5%
Days to Expiry
3
Calendar days
Total Call OI
94,408
Nearest expiry
Total Put OI
100,445
Nearest expiry
P/C OI Ratio
1.06
Put-heavy
Spot Price
$769.64
Published close
Consensus
7.0/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-05
Expiration
Max Pain Strike
Last Updated
2026-10-01
$764.00
10/1/2026, 11:32:25 PM
2026-10-02Updated
$764.00
10/2/2026, 11:32:57 PM
2026-10-05Next
$763.00
10/2/2026, 11:32:57 PM
2026-10-06
$765.00
10/2/2026, 11:32:57 PM
2026-10-07
$765.00
10/2/2026, 11:32:57 PM
2026-10-08
$765.00
10/2/2026, 11:32:57 PM
2026-10-09
$767.00
10/2/2026, 11:32:57 PM
2026-10-16
$765.00
10/2/2026, 11:32:57 PM
2026-10-23
$768.00
10/2/2026, 11:32:57 PM
2026-10-30
$760.00
10/2/2026, 11:32:57 PM
2026-11-06
$763.00
10/2/2026, 11:32:57 PM
2026-11-20
$765.00
10/2/2026, 11:32:57 PM
2026-11-30
$755.00
10/2/2026, 11:32:57 PM
2026-12-18
$735.00
10/2/2026, 11:32:57 PM
2026-12-31
$745.00
10/2/2026, 11:32:57 PM
2027-01-15
$730.00
10/2/2026, 11:32:57 PM
2027-01-29
$766.00
10/2/2026, 11:32:57 PM
2027-02-26
$761.00
10/2/2026, 11:32:57 PM
2027-03-19
$745.00
10/2/2026, 11:32:57 PM
2027-03-31
$760.00
10/2/2026, 11:32:57 PM
2027-06-17
$775.00
10/2/2026, 11:32:57 PM
2027-06-30
$790.00
10/2/2026, 11:32:57 PM
2027-09-17
$820.00
10/2/2026, 11:32:57 PM
Selected expiration: 2026-10-05 at max pain $763.00.
SPY pain by strike for 2026-10-05 expiration
Strike
Call Pain
Put Pain
Total Pain
550
0
1830331300
1830331300
555
0
1780199300
1780199300
565
0
1680045300
1680045300
570
0
1630223800
1630223800
585
0
1481300800
1481300800
595
0
1382156800
1382156800
600
0
1332697300
1332697300
605
0
1283363300
1283363300
610
0
1234032300
1234032300
615
0
1184752300
1184752300
630
0
1037243800
1037243800
640
0
938922800
938922800
650
0
841243800
841243800
655
0
792644300
792644300
660
0
744173300
744173300
665
0
695825300
695825300
670
0
647496800
647496800
675
0
604001800
604001800
680
0
563218800
563218800
685
22500
523871300
523893800
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.