Industrial Select Sector SPDRClose $169.95EOD only
Max Pain
$170.00
Next expiry Oct 9, 2026
Expected Move
±$3.42
2.0% from close
Price Gap
+0.05
Distance to max pain
IV Rank
2
Low premium
P/C OI
1.81
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Oct 2, 2026 close
End-of-day snapshot
This page reflects XLI 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 — XLI
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-09 shows max pain at $170.00 (0.05 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$170.00
Nearest expiry
Expected Move
±$3.42
±2.0%
Days to Expiry
7
Calendar days
Total Call OI
6,595
Nearest expiry
Total Put OI
5,314
Nearest expiry
P/C OI Ratio
0.81
Put-heavy
Spot Price
$169.95
Published close
Consensus
-
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
$169.00
9/25/2026, 11:32:24 PM
2026-10-02Updated
$169.00
10/2/2026, 11:35:30 PM
2026-10-09Next
$170.00
10/2/2026, 11:35:30 PM
2026-10-16
$172.00
10/2/2026, 11:35:30 PM
2026-10-23
$170.00
10/2/2026, 11:35:30 PM
2026-10-30
$170.00
10/2/2026, 11:35:30 PM
2026-11-06
$170.00
10/2/2026, 11:35:30 PM
2026-11-20
$180.00
10/2/2026, 11:35:30 PM
2026-12-18
$170.00
10/2/2026, 11:35:30 PM
2027-01-15
$170.00
10/2/2026, 11:35:30 PM
2027-03-19
$180.00
10/2/2026, 11:35:30 PM
2027-06-17
$185.00
10/2/2026, 11:35:30 PM
2027-09-17
$160.00
10/2/2026, 11:35:30 PM
Selected expiration: 2026-10-09 at max pain $170.00.
XLI pain by strike for 2026-10-09 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
25185400
25185400
120
0
22530400
22530400
125
0
19878400
19878400
130
0
17231400
17231400
135
1000
14590900
14591900
140
2000
11991900
11993900
145
3000
9413400
9416400
150
4000
6916400
6920400
152.5
4500
5679900
5684400
155
5000
4471900
4476900
157
5400
3553700
3559100
158
5600
3136300
3141900
159
5800
2734000
2739800
160
6400
2346000
2352400
161
7000
1977700
1984700
162
7600
1612800
1620400
162.5
8050
1434650
1442700
163
8800
1256500
1265300
164
10300
957500
967800
165
11800
694100
705900
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.