This page reflects THRM 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 — THRM
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (8.70 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
-
Range by options
Days to Expiry
-
Calendar days
Total Call OI
98
Nearest expiry
Total Put OI
6,327
Nearest expiry
P/C OI Ratio
64.56
Put-heavy
Spot Price
$31.30
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
$35.00
8/21/2026, 11:34:01 PM
2026-09-18
$35.00
9/18/2026, 11:35:33 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:32:39 PM
2026-11-20
$25.00
10/2/2026, 11:32:39 PM
2026-12-18
$40.00
10/2/2026, 11:32:39 PM
2027-03-19
$30.00
10/2/2026, 11:32:39 PM
Selected expiration: 2026-10-16 at max pain $40.00.
THRM pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20.43
0
7559025
7559025
27.93
22500
2813775
2836275
30
29538
1745862
1775400
32.93
40672
587340
628012
35
53920
145395
199315
37.93
72672
59546
132218
40
89232
1793
91025
42.93
114430
1207
115637
45
133267
793
134060
47.93
161395
207
161602
50
181474
0
181474
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.