This page reflects UMAC 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 — UMAC
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $24.50 (2.13 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$24.50
Nearest expiry
Expected Move
±$1.82
±8.2%
Days to Expiry
7
Calendar days
Total Call OI
2,569
Nearest expiry
Total Put OI
2,610
Nearest expiry
P/C OI Ratio
1.02
Put-heavy
Spot Price
$22.37
Published close
Consensus
-
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
$23.50
9/25/2026, 11:29:08 PM
2026-10-02Updated
$23.50
10/2/2026, 11:34:37 PM
2026-10-09Next
$24.50
10/2/2026, 11:34:37 PM
2026-10-16
$25.00
10/2/2026, 11:34:37 PM
2026-10-23
$23.50
10/2/2026, 11:34:37 PM
2026-10-30
$23.50
10/2/2026, 11:34:37 PM
2026-11-06
$21.00
10/2/2026, 11:34:37 PM
2026-11-20
$25.00
10/2/2026, 11:34:37 PM
2027-01-15
$15.00
10/2/2026, 11:34:37 PM
2027-02-19
$17.50
10/2/2026, 11:34:37 PM
2027-05-21
$22.50
10/2/2026, 11:34:37 PM
Selected expiration: 2026-10-09 at max pain $24.50.
UMAC pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
1797050
1797050
17
600
1276650
1277250
17.5
750
1147200
1147950
18
900
1017900
1018800
18.5
1050
892350
893400
19
1300
767050
768350
19.5
2600
644050
646650
20
3900
536950
540850
20.5
5300
441200
446500
21
6800
369100
375900
21.5
15400
309850
325250
22
25400
257350
282750
22.5
38350
213850
252200
23
57550
174800
232350
23.5
78850
138400
217250
24
101400
106650
208050
24.5
126100
79850
205950
25
157150
54950
212100
25.5
196200
40550
236750
26
239700
26300
266000
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.