This page reflects TER 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 — TER
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $350.00 (99.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$13.90
±3.1%
Days to Expiry
7
Calendar days
Total Call OI
2,374
Nearest expiry
Total Put OI
1,199
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$449.04
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
$370.00
9/25/2026, 11:34:49 PM
2026-10-02Updated
$370.00
10/2/2026, 11:31:38 PM
2026-10-09Next
$350.00
10/2/2026, 11:31:38 PM
2026-10-16
$380.00
10/2/2026, 11:31:38 PM
2026-10-23
$375.00
10/2/2026, 11:31:38 PM
2026-10-30
$395.00
10/2/2026, 11:31:38 PM
2026-11-06
$350.00
10/2/2026, 11:31:38 PM
2026-11-20
$370.00
10/2/2026, 11:31:38 PM
2026-12-18
$360.00
10/2/2026, 11:31:38 PM
2027-01-15
$300.00
10/2/2026, 11:31:38 PM
2027-04-16
$380.00
10/2/2026, 11:31:38 PM
Selected expiration: 2026-10-09 at max pain $350.00.
TER pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
225
0
17863250
17863250
250
0
14000750
14000750
255
0
13229250
13229250
260
0
12465750
12465750
265
0
11717750
11717750
270
0
10972750
10972750
275
500
10227750
10228250
280
1500
9486750
9488250
285
2500
8778250
8780750
290
3500
8220750
8224250
295
4500
7695750
7700250
300
5500
7176750
7182250
305
6500
6674750
6681250
310
7500
6183750
6191250
315
8500
5725750
5734250
320
9500
5282250
5291750
325
10500
4847750
4858250
327.5
11000
4634750
4645750
330
11500
4422000
4433500
332.5
25000
4219000
4244000
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.