Nearest listed expiration 2026-10-07 shows max pain at $148.00 (0.63 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$148.00
Nearest expiry
Expected Move
±$6.02
±4.1%
Days to Expiry
5
Calendar days
Total Call OI
7,671
Nearest expiry
Total Put OI
11,031
Nearest expiry
P/C OI Ratio
1.44
Put-heavy
Spot Price
$147.37
Published close
Consensus
6.5/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-07
Expiration
Max Pain Strike
Last Updated
2026-09-30
$148.00
9/30/2026, 11:35:09 PM
2026-10-02Updated
$147.00
10/2/2026, 11:35:50 PM
2026-10-07Next
$148.00
10/2/2026, 11:35:50 PM
2026-10-09
$149.00
10/2/2026, 11:35:50 PM
2026-10-16
$140.00
10/2/2026, 11:35:50 PM
2026-10-23
$148.00
10/2/2026, 11:35:50 PM
2026-10-30
$152.50
10/2/2026, 11:35:50 PM
2026-11-06
$150.00
10/2/2026, 11:35:50 PM
2026-11-20
$150.00
10/2/2026, 11:35:50 PM
2026-12-18
$138.00
10/2/2026, 11:35:50 PM
2027-01-15
$125.00
10/2/2026, 11:35:50 PM
2027-03-19
$140.00
10/2/2026, 11:35:50 PM
2027-04-16
$140.00
10/2/2026, 11:35:50 PM
2027-06-17
$130.00
10/2/2026, 11:35:50 PM
2027-09-17
$135.00
10/2/2026, 11:35:50 PM
Selected expiration: 2026-10-07 at max pain $148.00.
USO pain by strike for 2026-10-07 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
16432600
16432600
126
0
15358300
15358300
130
0
11067100
11067100
131
0
10070000
10070000
134
6000
7078700
7084700
135
8000
6089200
6097200
136
11200
5366500
5377700
137
14700
4740200
4754900
138
19300
4148100
4167400
139
23900
3562500
3586400
140
28600
2992700
3021300
141
34800
2544500
2579300
142
41900
2116500
2158400
143
50900
1715300
1766200
144
107800
1348600
1456400
145
164700
1000600
1165300
146
221600
828400
1050000
147
329000
672000
1001000
148
439700
539100
978800
149
562900
423200
986100
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.