Max Pain Today
Max Pain is the strike price at which the largest number of option buyers would lose money at expiry — the point of maximum aggregate option-holder loss. Charteq computes it live from the option chain, alongside the call wall and put wall.
It is a positioning reference derived from open interest, not a forecast.
How Max Pain works
For each strike, you sum the value of all in-the-money options if the underlying settled there; the strike with the lowest total payout to holders is Max Pain. Because writers profit when options expire worthless, price sometimes gravitates toward Max Pain into expiry — but this is a tendency, not a rule.
Call wall & put wall
The call wall is the strike with the highest Call OI (a resistance zone); the put wall is the strike with the highest Put OI (a support zone). Charteq marks both, plus how OI is migrating between strikes.
FAQ
What is Max Pain in options?
The strike at which option buyers, in aggregate, lose the most at expiry — equivalently where option writers keep the most premium. It is computed from open interest across all strikes.
Does price always go to Max Pain?
No. There is a tendency for price to drift toward Max Pain near expiry due to writer hedging, but it is a statistical tendency, not a guarantee — treat it as context, not a target.
What are call and put walls?
The call wall is the strike with the most Call open interest (acts as resistance); the put wall is the strike with the most Put OI (acts as support). Large walls mark where writers are heavily positioned.