This page reflects TEL 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 — TEL
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $200.00 (20.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$10.45
±4.7%
Days to Expiry
14
Calendar days
Total Call OI
2,226
Nearest expiry
Total Put OI
1,427
Nearest expiry
P/C OI Ratio
0.64
Put-heavy
Spot Price
$220.36
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
$200.00
8/21/2026, 11:33:48 PM
2026-09-18
$200.00
9/18/2026, 11:35:37 PM
2026-10-16NextUpdated
$200.00
10/2/2026, 11:29:58 PM
2026-11-20
$210.00
10/2/2026, 11:29:58 PM
2026-12-18
$210.00
10/2/2026, 11:29:58 PM
2027-01-15
$210.00
10/2/2026, 11:29:58 PM
2027-02-19
$200.00
10/2/2026, 11:29:58 PM
2027-04-16
$140.00
10/2/2026, 11:29:58 PM
2027-05-21
$180.00
10/2/2026, 11:29:58 PM
2027-08-20
$115.00
10/2/2026, 11:29:58 PM
Selected expiration: 2026-10-16 at max pain $200.00.
TEL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
11614000
11614000
115
0
10900500
10900500
120
0
10188000
10188000
130
0
8764000
8764000
135
0
8053000
8053000
140
0
7343000
7343000
145
0
6633500
6633500
150
0
5931500
5931500
155
500
5232000
5232500
160
1000
4560000
4561000
165
2000
3888500
3890500
170
3000
3218000
3221000
175
4000
2562000
2566000
180
5000
1946000
1951000
185
6000
1354500
1360500
190
7500
778500
786000
195
87500
580000
667500
200
227000
400000
627000
210
674000
129000
803000
220
1277000
36000
1313000
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.