This page reflects WMG 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 — WMG
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $28.00 (1.18 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$1.62
±6.1%
Days to Expiry
14
Calendar days
Total Call OI
1,490
Nearest expiry
Total Put OI
224
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$26.82
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
$27.00
8/21/2026, 11:37:23 PM
2026-09-18
$26.00
9/18/2026, 11:34:42 PM
2026-10-16NextUpdated
$28.00
10/2/2026, 11:35:17 PM
2026-11-20
$29.00
10/2/2026, 11:35:17 PM
2027-01-15
$25.00
10/2/2026, 11:35:17 PM
2027-04-16
$18.00
10/2/2026, 11:35:17 PM
Selected expiration: 2026-10-16 at max pain $28.00.
WMG pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
244100
244100
20
0
132100
132100
21
0
109700
109700
22
0
87300
87300
23
0
66200
66200
24
0
45100
45100
25
0
25200
25200
26
0
11900
11900
27
0
5000
5000
28
500
900
1400
29
4700
300
5000
30
18700
0
18700
31
40000
0
40000
32
82200
0
82200
33
142000
0
142000
34
203000
0
203000
35
265300
0
265300
36
414000
0
414000
37
562900
0
562900
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.