This page reflects TREE 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 — TREE
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $25.00 (0.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.80
±11.4%
Days to Expiry
14
Calendar days
Total Call OI
2,366
Nearest expiry
Total Put OI
1,083
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$24.64
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, 11:35:11 PM
2026-09-18
$30.00
9/18/2026, 11:31:41 PM
2026-10-16NextUpdated
$25.00
10/2/2026, 11:30:32 PM
2026-11-20
$22.50
10/2/2026, 11:30:32 PM
2027-01-15
$30.00
10/2/2026, 11:30:32 PM
2027-04-16
$25.00
10/2/2026, 11:30:32 PM
Selected expiration: 2026-10-16 at max pain $25.00.
TREE pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
502250
502250
22.5
8000
245750
253750
25
39500
181500
221000
30
146500
84500
231000
35
618000
71000
689000
40
1196000
57500
1253500
45
1843500
46000
1889500
50
2648000
34500
2682500
55
3510500
23000
3533500
60
4500000
11500
4511500
65
5624000
0
5624000
70
6754500
0
6754500
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.