This page reflects TNL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — TNL
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $67.50 (5.78 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$67.50
Nearest expiry
Expected Move
±$3.62
±5.9%
Days to Expiry
11
Calendar days
Total Call OI
1,495
Nearest expiry
Total Put OI
1,149
Nearest expiry
P/C OI Ratio
0.77
Put-heavy
Spot Price
$61.72
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
$70.00
8/21/2026, 11:33:42 PM
2026-09-18
$65.00
9/18/2026, 11:35:43 PM
2026-10-16NextUpdated
$67.50
10/5/2026, 11:31:15 PM
2026-11-20
$62.50
10/5/2026, 11:31:15 PM
2027-02-19
$55.00
10/5/2026, 11:31:15 PM
2027-05-21
$50.00
10/5/2026, 11:31:15 PM
Selected expiration: 2026-10-16 at max pain $67.50.
TNL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
641250
641250
55
2500
67250
69750
57.5
3750
49250
53000
60
5000
32000
37000
62.5
6250
20500
26750
65
10000
9250
19250
67.5
17250
1000
18250
70
29000
0
29000
72.5
311250
0
311250
75
593500
0
593500
80
1340500
0
1340500
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.