This page reflects ZTO 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 — ZTO
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $20.00 (0.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$1.27
±6.5%
Days to Expiry
14
Calendar days
Total Call OI
7,969
Nearest expiry
Total Put OI
479
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$19.50
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
$23.00
8/21/2026, 11:36:56 PM
2026-09-18
$22.00
9/18/2026, 11:35:43 PM
2026-10-16NextUpdated
$20.00
10/2/2026, 11:34:31 PM
2026-11-20
$20.00
10/2/2026, 11:34:31 PM
2026-12-18
$24.00
10/2/2026, 11:34:31 PM
2027-01-15
$25.00
10/2/2026, 11:34:31 PM
2027-04-16
$20.00
10/2/2026, 11:34:31 PM
Selected expiration: 2026-10-16 at max pain $20.00.
ZTO pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
267400
267400
15
0
171800
171800
16
0
124300
124300
17
0
77200
77200
18
1200
52400
53600
19
2400
29100
31500
20
3800
9400
13200
21
54600
3500
58100
22
177600
2600
180200
23
729900
1900
731800
24
1285200
1200
1286400
25
1843500
700
1844200
26
2630200
200
2630400
27
3417300
0
3417300
28
4204400
0
4204400
29
4991500
0
4991500
30
5778600
0
5778600
31
6565700
0
6565700
32
7352800
0
7352800
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.