This page reflects WM 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 — WM
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $210.00 (5.55 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$7.05
±3.5%
Days to Expiry
14
Calendar days
Total Call OI
5,983
Nearest expiry
Total Put OI
4,797
Nearest expiry
P/C OI Ratio
0.80
Put-heavy
Spot Price
$204.45
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
$220.00
8/21/2026, 11:37:15 PM
2026-09-18
$220.00
9/18/2026, 11:37:00 PM
2026-10-16NextUpdated
$210.00
10/2/2026, 11:34:51 PM
2026-11-20
$220.00
10/2/2026, 11:34:51 PM
2026-12-18
$210.00
10/2/2026, 11:34:51 PM
2027-01-15
$210.00
10/2/2026, 11:34:51 PM
2027-03-19
$220.00
10/2/2026, 11:34:51 PM
2027-04-16
$200.00
10/2/2026, 11:34:51 PM
2027-06-17
$210.00
10/2/2026, 11:34:51 PM
2027-09-17
$210.00
10/2/2026, 11:34:51 PM
Selected expiration: 2026-10-16 at max pain $210.00.
WM pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
24914000
24914000
155
3500
22515500
22519000
160
7500
20121500
20129000
165
11500
17732000
17743500
170
15500
15344000
15359500
175
19500
12967500
12987000
180
36000
10603500
10639500
185
66000
8270000
8336000
190
97500
6004500
6102000
195
137500
3854000
3991500
200
199500
1836000
2035500
210
552500
133000
685500
220
1538500
43000
1581500
230
3633500
24000
3657500
240
7170500
8000
7178500
250
11731500
4000
11735500
260
16696500
0
16696500
270
22045500
0
22045500
280
27706500
0
27706500
290
33595500
0
33595500
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.