This page reflects XENE 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 — XENE
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $40.00 (1.98 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$2.70
±7.1%
Days to Expiry
14
Calendar days
Total Call OI
14,297
Nearest expiry
Total Put OI
1,035
Nearest expiry
P/C OI Ratio
0.07
Put-heavy
Spot Price
$38.02
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
$65.00
8/21/2026, 11:36:48 PM
2026-09-18
$57.50
9/18/2026, 11:36:41 PM
2026-10-16NextUpdated
$40.00
10/2/2026, 11:35:16 PM
2026-11-20
$40.00
10/2/2026, 11:35:16 PM
2026-12-18
$35.00
10/2/2026, 11:35:16 PM
2027-01-15
$40.00
10/2/2026, 11:35:16 PM
2027-04-16
$40.00
10/2/2026, 11:35:16 PM
Selected expiration: 2026-10-16 at max pain $40.00.
XENE pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
1698250
1698250
25
0
1441000
1441000
30
1000
928500
929500
32.5
7250
689250
696500
35
13500
451250
464750
37.5
34750
237750
272500
40
90250
135500
225750
42.5
353000
101250
454250
45
692500
72750
765250
47.5
1589500
46250
1635750
50
2487750
39250
2527000
52.5
3498000
34000
3532000
55
4509500
29250
4538750
57.5
5521750
24750
5546500
60
6534000
20500
6554500
62.5
7570000
16250
7586250
65
8607500
12250
8619750
67.5
9650000
8250
9658250
70
10703750
4500
10708250
72.5
11789500
750
11790250
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.