This page reflects TE 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 — TE
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $4.00 (0.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.35
±8.9%
Days to Expiry
7
Calendar days
Total Call OI
8,796
Nearest expiry
Total Put OI
2,634
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$3.92
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-09
Expiration
Max Pain Strike
Last Updated
2026-09-25
$4.50
9/25/2026, 11:29:55 PM
2026-10-02Updated
$3.50
10/2/2026, 11:32:55 PM
2026-10-09Next
$4.00
10/2/2026, 11:32:55 PM
2026-10-16
$5.00
10/2/2026, 11:32:55 PM
2026-10-23
$4.00
10/2/2026, 11:32:55 PM
2026-10-30
$4.50
10/2/2026, 11:32:55 PM
2026-11-06
$3.50
10/2/2026, 11:32:55 PM
2026-11-20
$4.00
10/2/2026, 11:32:55 PM
2026-12-18
$5.00
10/2/2026, 11:32:55 PM
2027-01-15
$4.00
10/2/2026, 11:32:55 PM
2027-04-16
$4.00
10/2/2026, 11:32:55 PM
2027-06-17
$4.00
10/2/2026, 11:32:55 PM
Selected expiration: 2026-10-09 at max pain $4.00.
TE pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
961100
961100
1
11250
829400
840650
1.5
25150
697700
722850
2
39200
566050
605250
2.5
53650
434400
488050
3
70000
303050
373050
3.5
91150
172050
263200
4
131400
76600
208000
4.5
276650
33250
309900
5
499950
11900
511850
5.5
760200
6550
766750
6
1034950
1350
1036300
6.5
1423900
900
1424800
7
1839600
450
1840050
7.5
2267650
100
2267750
8
2702200
50
2702250
8.5
3138600
0
3138600
9
3575500
0
3575500
9.5
4015000
0
4015000
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.