This page reflects UBS 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 — UBS
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $50.00 (2.29 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$2.25
±4.7%
Days to Expiry
14
Calendar days
Total Call OI
4,669
Nearest expiry
Total Put OI
5,536
Nearest expiry
P/C OI Ratio
1.19
Put-heavy
Spot Price
$47.71
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
$47.50
8/21/2026, 11:32:35 PM
2026-09-18
$50.00
9/18/2026, 11:31:59 PM
2026-10-16NextUpdated
$50.00
10/2/2026, 11:33:19 PM
2026-11-20
$47.50
10/2/2026, 11:33:19 PM
2027-01-15
$47.50
10/2/2026, 11:33:19 PM
2027-02-19
$50.00
10/2/2026, 11:33:19 PM
2027-05-21
$42.50
10/2/2026, 11:33:19 PM
Selected expiration: 2026-10-16 at max pain $50.00.
UBS pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
9078000
9078000
35
2500
6310000
6312500
37.5
4250
4941000
4945250
40
6000
3573500
3579500
42.5
7750
2242500
2250250
45
9500
1101500
1111000
47.5
12000
411750
423750
50
166250
72750
239000
52.5
647250
0
647250
55
1301500
0
1301500
57.5
2293500
0
2293500
60
3398000
0
3398000
62.5
4562750
0
4562750
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.