Real Estate Select Sector SPDRClose $40.81EOD only
Max Pain
$43.00
Next expiry Oct 16, 2026
Expected Move
±$0.95
2.3% from close
Price Gap
+2.19
Distance to max pain
IV Rank
6
Low premium
P/C OI
1.41
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Oct 2, 2026 close
End-of-day snapshot
This page reflects XLRE 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 — XLRE
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $43.00 (2.19 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$43.00
Nearest expiry
Expected Move
±$0.95
±2.3%
Days to Expiry
14
Calendar days
Total Call OI
2,069
Nearest expiry
Total Put OI
620
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$40.81
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
$42.00
8/21/2026, 11:37:30 PM
2026-09-18
$43.00
9/18/2026, 11:37:03 PM
2026-10-16NextUpdated
$43.00
10/2/2026, 11:30:55 PM
2026-11-20
$42.00
10/2/2026, 11:30:55 PM
2027-01-15
$41.00
10/2/2026, 11:30:55 PM
2027-02-19
$44.00
10/2/2026, 11:30:55 PM
2027-05-21
$34.00
10/2/2026, 11:30:55 PM
Selected expiration: 2026-10-16 at max pain $43.00.
XLRE pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
459000
459000
36
2500
395600
398100
37
7500
332200
339700
39
17500
206200
223700
40
22600
146800
169400
41
27800
88300
116100
42
41500
33600
75100
43
71800
3500
75300
44
145400
2800
148200
45
294800
2300
297100
46
498400
2000
500400
47
710400
1700
712100
48
922500
1400
923900
49
1135200
1100
1136300
50
1347900
800
1348700
51
1560600
500
1561100
52
1773300
200
1773500
53
1986000
100
1986100
54
2198700
0
2198700
55
2411400
0
2411400
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.