This page reflects TDW 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 — TDW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $85.00 (2.58 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$1.55
±1.9%
Days to Expiry
14
Calendar days
Total Call OI
1,111
Nearest expiry
Total Put OI
733
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$82.42
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
$75.00
8/21/2026, 11:32:14 PM
2026-09-18
$90.00
9/18/2026, 11:31:03 PM
2026-10-16NextUpdated
$85.00
10/2/2026, 11:26:13 PM
2026-11-20
$85.00
10/2/2026, 11:26:13 PM
2027-01-15
$70.00
10/2/2026, 11:26:13 PM
2027-04-16
$90.00
10/2/2026, 11:26:13 PM
2027-06-17
$75.00
10/2/2026, 11:26:13 PM
Selected expiration: 2026-10-16 at max pain $85.00.
TDW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
2755500
2755500
45
0
2428500
2428500
50
0
2101500
2101500
55
500
1774500
1775000
60
1000
1451000
1452000
65
2500
1148000
1150500
70
5500
859000
864500
75
35000
604000
639000
80
73000
366500
439500
85
111000
166500
277500
90
284500
14000
298500
95
623500
0
623500
100
1072000
0
1072000
105
1559000
0
1559000
110
2070500
0
2070500
115
2597500
0
2597500
120
3132000
0
3132000
125
3677000
0
3677000
130
4229500
0
4229500
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.