This page reflects TRVI 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 — TRVI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $15.00 (1.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.93
±6.7%
Days to Expiry
14
Calendar days
Total Call OI
9,031
Nearest expiry
Total Put OI
910
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$13.91
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
$15.00
8/21/2026, 11:35:22 PM
2026-09-18
$16.00
9/18/2026, 11:32:17 PM
2026-10-16NextUpdated
$15.00
10/2/2026, 11:27:14 PM
2027-01-15
$7.00
10/2/2026, 11:27:14 PM
Selected expiration: 2026-10-16 at max pain $15.00.
TRVI pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
932100
932100
8
1500
659100
660600
10
2500
477100
479600
11
3000
386300
389300
12
5100
295500
300600
13
7200
205000
212200
14
18100
127700
145800
15
229200
51800
281000
16
508200
35500
543700
17
833700
22500
856200
18
1411400
10900
1422300
19
2215700
200
2215900
20
3076300
100
3076400
21
3979100
0
3979100
22
4881900
0
4881900
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.