Max pain levels
WFC max pain by expiration
| Expiration | Max pain | From spot | Strikes |
|---|---|---|---|
| 2026-10-02 | $82 | +2.4% | 14 |
| 2026-10-09 | $83 | +3.7% | 17 |
| 2026-10-16 | $85 | +6.2% | 26 |
How to read this
Max pain is the strike where the total intrinsic value option writers would pay out to holders is smallest. The idea: if price settled exactly there, the most option buyers would see their positions expire with the least value. Max pain is a magnet story, not a law: it uses open interest only, ignores volume traded after the snapshot, and says nothing about direction. Distance from spot tells you how far the level is: 1% is a strong pull on expiration days, 5% is background noise. We compute it for the next 3 expirations from the same delayed chain snapshot used across this page.
Related
WFC gamma exposure levels · WFC unusual options activity · All tickers: options flow hub · Options flow glossary
// Get emailed when WFC prints unusual options activity: set a WFC alert (free account, uses the existing watchlist alert flow).
FAQ
What is max pain for WFC?
As of the latest snapshot, max pain for WFC's nearest expiration (2026-10-02) is $82, 2.4% above the $80.0 spot. Delayed snapshot, computed from open interest across 14 strikes.
Does the stock gravitate to max pain?
Often near expiration, not always. Max pain is where option writers have the smallest total payout, and hedging flows can pull price toward it. It is a widely watched level, not a prediction.
How is max pain computed?
For each candidate strike we sum the intrinsic value of all call and put open interest if the underlying settled there. The strike with the smallest total payout is max pain. We evaluate the next 3 expirations from one delayed chain snapshot.
When does this update?
Once per trading day, after the close, from the same snapshot as our GEX and options flow pages. The timestamp is printed on the page.