Western Alliance BancorporationClose $76.02EOD only
Max Pain
$80.00
Next expiry Oct 16, 2026
Expected Move
±$1.42
1.9% from close
Price Gap
+3.98
Distance to max pain
IV Rank
21
Low premium
P/C OI
1.45
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Oct 5, 2026 close
End-of-day snapshot
This page reflects WAL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Oct 5, 2026 close
Max Pain — WAL
Data as of market close Oct 5, 2026
Nearest listed expiration 2026-10-16 shows max pain at $80.00 (3.98 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$1.42
±1.9%
Days to Expiry
11
Calendar days
Total Call OI
881
Nearest expiry
Total Put OI
1,260
Nearest expiry
P/C OI Ratio
1.43
Put-heavy
Spot Price
$76.02
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
$80.00
8/21/2026, 11:36:44 PM
2026-09-18
$82.50
9/18/2026, 11:35:09 PM
2026-10-16NextUpdated
$80.00
10/5/2026, 11:36:02 PM
2026-11-20
$77.50
10/5/2026, 11:36:02 PM
2026-12-18
$80.00
10/5/2026, 11:36:02 PM
2027-01-15
$75.00
10/5/2026, 11:36:02 PM
2027-03-19
$82.50
10/5/2026, 11:36:02 PM
2027-05-21
$85.00
10/5/2026, 11:36:02 PM
Selected expiration: 2026-10-16 at max pain $80.00.
WAL pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
2488250
2488250
60
0
1863250
1863250
65
0
1254250
1254250
70
34500
693750
728250
72.5
51750
498500
550250
75
72750
339500
412250
77.5
93750
217000
310750
80
139250
102500
241750
82.5
262750
0
262750
85
417000
0
417000
87.5
611000
0
611000
90
827250
0
827250
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.