This page reflects ZVRA 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 — ZVRA
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $11.00 (1.01 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.88
±8.8%
Days to Expiry
14
Calendar days
Total Call OI
227
Nearest expiry
Total Put OI
228
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$9.99
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
$11.00
8/21/2026, 11:37:42 PM
2026-09-18
$11.00
9/18/2026, 11:37:08 PM
2026-10-16NextUpdated
$11.00
10/2/2026, 11:31:00 PM
2026-11-20
$10.00
10/2/2026, 11:31:00 PM
2026-12-18
$8.00
10/2/2026, 11:31:00 PM
2027-01-15
$7.00
10/2/2026, 11:31:00 PM
2027-02-19
$11.00
10/2/2026, 11:31:00 PM
2027-05-21
$12.00
10/2/2026, 11:31:00 PM
Selected expiration: 2026-10-16 at max pain $11.00.
ZVRA pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
157000
157000
7
300
88600
88900
8
400
66800
67200
9
500
47400
47900
10
700
28000
28700
11
3100
12300
15400
12
11600
6500
18100
13
23600
2800
26400
14
42700
0
42700
15
63100
0
63100
19
153500
0
153500
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.