This page reflects TAP 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 — TAP
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (3.14 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$1.80
±4.9%
Days to Expiry
14
Calendar days
Total Call OI
6,003
Nearest expiry
Total Put OI
3,186
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$36.86
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
$40.00
8/21/2026, 11:33:04 PM
2026-09-18
$40.00
9/18/2026, 11:31:18 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:26:46 PM
2026-11-20
$37.50
10/2/2026, 11:26:46 PM
2027-01-15
$42.50
10/2/2026, 11:26:46 PM
2027-04-16
$40.00
10/2/2026, 11:26:46 PM
Selected expiration: 2026-10-16 at max pain $40.00.
TAP pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
3490500
3490500
27.5
0
2694000
2694000
30
0
1908000
1908000
32.5
750
1128750
1129500
35
2250
530000
532250
37.5
48000
153500
201500
40
142000
24000
166000
42.5
948000
17000
965000
45
1891500
12750
1904250
47.5
3108500
8500
3117000
50
4456250
4250
4460500
52.5
5912250
0
5912250
55
7389250
0
7389250
57.5
8866250
0
8866250
60
10356500
0
10356500
65
13346500
0
13346500
70
16342500
0
16342500
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.