This page reflects SW 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 — SW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $45.00 (2.46 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$3.30
±7.8%
Days to Expiry
14
Calendar days
Total Call OI
7,680
Nearest expiry
Total Put OI
2,343
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$42.54
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
$50.00
8/21/2026, 11:31:50 PM
2026-09-18
$50.00
9/18/2026, 11:30:40 PM
2026-10-16NextUpdated
$45.00
10/2/2026, 11:30:40 PM
2026-11-20
$45.00
10/2/2026, 11:30:40 PM
2027-01-15
$40.00
10/2/2026, 11:30:40 PM
2027-04-16
$40.00
10/2/2026, 11:30:40 PM
Selected expiration: 2026-10-16 at max pain $45.00.
SW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
4537500
4537500
22.5
0
3951750
3951750
25
0
3366000
3366000
30
0
2229000
2229000
35
1000
1124500
1125500
40
12500
427000
439500
45
83500
0
83500
50
532000
0
532000
55
4204000
0
4204000
60
8028000
0
8028000
65
11865000
0
11865000
70
15703500
0
15703500
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.