This page reflects WVE 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 — WVE
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $5.00 (1.22 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.70
±18.5%
Days to Expiry
14
Calendar days
Total Call OI
17,148
Nearest expiry
Total Put OI
981
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$3.78
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
$6.00
8/21/2026, 11:37:20 PM
2026-09-18
$5.00
9/18/2026, 11:33:07 PM
2026-10-16NextUpdated
$5.00
10/2/2026, 11:29:24 PM
2026-11-20
$5.00
10/2/2026, 11:29:24 PM
2026-12-18
$5.00
10/2/2026, 11:29:24 PM
2027-01-15
$4.00
10/2/2026, 11:29:24 PM
2027-04-16
$4.00
10/2/2026, 11:29:24 PM
2027-06-17
$3.00
10/2/2026, 11:29:24 PM
Selected expiration: 2026-10-16 at max pain $5.00.
WVE pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
209200
209200
4
6600
119300
125900
5
38100
60200
98300
6
119900
26400
146300
7
294100
17800
311900
8
689500
13900
703400
9
2196500
10000
2206500
10
3727500
6600
3734100
11
5258500
3300
5261800
12
6938400
0
6938400
13
8635500
0
8635500
14
10338900
0
10338900
15
12042700
0
12042700
17
15452900
0
15452900
18
17158000
0
17158000
19
18863400
0
18863400
20
20569000
0
20569000
21
22274600
0
22274600
25
29097400
0
29097400
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.