Nearest listed expiration 2026-10-09 shows max pain at $15.50 (0.01 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.50
Nearest expiry
Expected Move
±$1.21
±7.8%
Days to Expiry
7
Calendar days
Total Call OI
23,948
Nearest expiry
Total Put OI
26,832
Nearest expiry
P/C OI Ratio
1.12
Put-heavy
Spot Price
$15.49
Published close
Consensus
7.5/10
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
$16.00
9/25/2026, 11:34:43 PM
2026-10-02Updated
$15.50
10/2/2026, 11:35:34 PM
2026-10-09Next
$15.50
10/2/2026, 11:35:34 PM
2026-10-16
$15.00
10/2/2026, 11:35:34 PM
2026-10-23
$16.00
10/2/2026, 11:35:34 PM
2026-10-30
$15.50
10/2/2026, 11:35:34 PM
2026-11-06
$15.00
10/2/2026, 11:35:34 PM
2026-11-20
$16.00
10/2/2026, 11:35:34 PM
2026-12-18
$16.00
10/2/2026, 11:35:34 PM
2027-01-15
$12.00
10/2/2026, 11:35:34 PM
2027-02-19
$18.00
10/2/2026, 11:35:34 PM
2027-03-19
$15.00
10/2/2026, 11:35:34 PM
2027-04-16
$18.00
10/2/2026, 11:35:34 PM
2027-05-21
$15.00
10/2/2026, 11:35:34 PM
2027-06-17
$20.00
10/2/2026, 11:35:34 PM
2027-09-17
$12.00
10/2/2026, 11:35:34 PM
Selected expiration: 2026-10-09 at max pain $15.50.
WULF pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
24861100
24861100
9
2000
14128300
14130300
10
2600
11450800
11453400
11
3200
8775400
8778600
11.5
3500
7439600
7443100
12
3850
6110100
6113950
12.5
4200
4781350
4785550
13
4550
3508400
3512950
13.5
5150
2654850
2660000
14
8850
1898200
1907050
14.5
13850
1185900
1199750
15
47200
744100
791300
15.5
128800
359950
488750
16
300250
258950
559200
16.5
515300
188900
704200
17
883600
132250
1015850
17.5
1302350
90150
1392500
18
1909300
51800
1961100
18.5
2551350
20850
2572200
19
3203050
8750
3211800
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.