BTC
ETH
SOL
USDT
USDC
XRP
TRX
BNB
DOGE
TON
More Assets
Chart description
Max Pain is the settlement price at expiry that minimizes the total intrinsic value (payout) of all outstanding options (calls + puts) for a given maturity, based on current open interest. For each maturity, we evaluate candidate settlement prices and compute the aggregate intrinsic value across all strikes; the price with the lowest total payout is the max pain level. Traders use this as a positioning-based reference for potential pinning near expiration, though it is heuristic and depends on how open interest is held/hedged. Calculations use real-time open interest and update every 10 minutes