SPY Max Pain
SPY $765.37 · Updated Oct 26, 4:00 PM ET
SPY max pain for Oct 27, 2026 (1 day out) is $767.00, 0.2% above the current $765.37. That is the settlement price at which the open contracts on that date would pay holders the least. For Nov 27, 2026, max pain is $771.00.
MAX PAIN BY EXPIRATION
| Expiration | DTE | Max pain | vs spot | Call OI | Put OI |
|---|---|---|---|---|---|
| Oct 27, 2026 | 1 | $767.00 | +0.2% | 83,223 | 145,649 |
| Oct 28, 2026 | 2 | $767.00 | +0.2% | 61,822 | 100,330 |
| Oct 29, 2026 | 3 | $766.00 | +0.1% | 37,970 | 79,978 |
| Oct 30, 2026 | 4 | $765.00 | -0.0% | 612,632 | 1,648,282 |
| Nov 2, 2026 | 7 | $766.00 | +0.1% | 19,488 | 28,792 |
| Nov 3, 2026 | 8 | $765.00 | -0.0% | 10,174 | 15,569 |
| Nov 4, 2026 | 9 | $765.00 | -0.0% | 6,424 | 10,224 |
| Nov 5, 2026 | 10 | $765.00 | -0.0% | 4,671 | 4,795 |
| Nov 6, 2026 | 11 | $770.00 | +0.6% | 102,951 | 248,533 |
| Nov 13, 2026 | 18 | $772.00 | +0.9% | 126,173 | 170,261 |
| Nov 20, 2026 | 25 | $770.00 | +0.6% | 544,749 | 2,690,900 |
| Nov 27, 2026 | 32 | $771.00 | +0.7% | 29,889 | 45,185 |
How this is calculated: Max Pain methodology