Nearest listed expiration 2026-10-09 shows max pain at $447.50 (25.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$447.50
Nearest expiry
Expected Move
±$14.35
±3.0%
Days to Expiry
7
Calendar days
Total Call OI
22,459
Nearest expiry
Total Put OI
27,323
Nearest expiry
P/C OI Ratio
1.22
Put-heavy
Spot Price
$472.78
Published close
Consensus
5.0/10
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
$432.50
9/25/2026, 11:32:50 PM
2026-10-02Updated
$440.00
10/2/2026, 11:34:16 PM
2026-10-09Next
$447.50
10/2/2026, 11:34:16 PM
2026-10-16
$430.00
10/2/2026, 11:34:16 PM
2026-10-23
$435.00
10/2/2026, 11:34:16 PM
2026-10-30
$440.00
10/2/2026, 11:34:16 PM
2026-11-06
$450.00
10/2/2026, 11:34:16 PM
2026-11-20
$400.00
10/2/2026, 11:34:16 PM
2026-12-18
$400.00
10/2/2026, 11:34:16 PM
2027-01-15
$360.00
10/2/2026, 11:34:16 PM
2027-02-19
$410.00
10/2/2026, 11:34:16 PM
2027-03-19
$420.00
10/2/2026, 11:34:16 PM
2027-04-16
$430.00
10/2/2026, 11:34:16 PM
2027-06-17
$410.00
10/2/2026, 11:34:16 PM
2027-09-17
$480.00
10/2/2026, 11:34:16 PM
Selected expiration: 2026-10-09 at max pain $447.50.
TSM pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
225
0
472514250
472514250
230
0
458886250
458886250
235
0
445285250
445285250
240
0
431736250
431736250
245
0
418401750
418401750
250
0
405080750
405080750
255
0
391789750
391789750
260
0
378561750
378561750
265
2000
365349250
365351250
270
4000
352147250
352151250
275
6000
338954750
338960750
280
8000
325770250
325778250
285
10000
312798250
312808250
290
14000
299833250
299847250
295
20000
286910750
286930750
300
26000
274053250
274079250
305
32000
261502750
261534750
310
38000
248980250
249018250
315
44000
236482750
236526750
320
50000
224014250
224064250
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.