SPY Max Pain
SPY $756.26 · Updated Nov 10, 4:00 PM ET
SPY max pain for Nov 11, 2026 (1 day out) is $749.00, 1.0% below the current $756.26. That is the settlement price at which the open contracts on that date would pay holders the least. For Dec 11, 2026, max pain is $761.00.
MAX PAIN BY EXPIRATION
| Expiration | DTE | Max pain | vs spot | Call OI | Put OI |
|---|---|---|---|---|---|
| Nov 11, 2026 | 1 | $749.00 | -1.0% | 190,358 | 206,507 |
| Nov 12, 2026 | 2 | $748.00 | -1.1% | 89,952 | 108,399 |
| Nov 13, 2026 | 3 | $755.00 | -0.2% | 364,931 | 543,408 |
| Nov 16, 2026 | 6 | $749.00 | -1.0% | 81,870 | 81,039 |
| Nov 17, 2026 | 7 | $749.00 | -1.0% | 35,550 | 32,237 |
| Nov 18, 2026 | 8 | $750.00 | -0.8% | 29,860 | 32,982 |
| Nov 19, 2026 | 9 | $746.00 | -1.4% | 17,736 | 15,337 |
| Nov 20, 2026 | 10 | $759.00 | +0.4% | 807,213 | 2,892,747 |
| Nov 23, 2026 | 13 | $752.00 | -0.6% | 8,265 | 8,317 |
| Nov 24, 2026 | 14 | $750.00 | -0.8% | 3,893 | 6,007 |
| Nov 25, 2026 | 15 | $675.00 | -10.7% | 0 | 0 |
| Nov 27, 2026 | 17 | $760.00 | +0.5% | 75,308 | 159,674 |
How this is calculated: Max Pain methodology