This page reflects TW 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 — TW
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $105.00 (2.78 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$105.00
Nearest expiry
Expected Move
±$5.57
±5.5%
Days to Expiry
14
Calendar days
Total Call OI
1,359
Nearest expiry
Total Put OI
676
Nearest expiry
P/C OI Ratio
0.50
Put-heavy
Spot Price
$102.22
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
$105.00
8/21/2026, 11:34:55 PM
2026-09-18
$105.00
9/18/2026, 11:36:14 PM
2026-10-16NextUpdated
$105.00
10/2/2026, 11:31:24 PM
2026-11-20
$110.00
10/2/2026, 11:31:24 PM
2027-01-15
$95.00
10/2/2026, 11:31:24 PM
2027-04-16
$85.00
10/2/2026, 11:31:24 PM
Selected expiration: 2026-10-16 at max pain $105.00.
TW pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
2518000
2518000
75
0
1504000
1504000
80
2500
1166000
1168500
85
9000
829500
838500
90
15500
495500
511000
95
22000
298000
320000
100
34000
108000
142000
105
79500
55000
134500
110
142500
3500
146000
115
622500
2000
624500
120
1241500
1000
1242500
125
1869500
500
1870000
130
2501500
0
2501500
135
3156000
0
3156000
140
3810500
0
3810500
145
4465500
0
4465500
150
5131000
0
5131000
160
6489000
0
6489000
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.