SMH Max Pain
SMH $541.62 · Updated Oct 26, 4:00 PM ET
SMH max pain for Oct 28, 2026 (2 days out) is $400.00, 26.1% below the current $541.62. 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 $270.00.
MAX PAIN BY EXPIRATION
| Expiration | DTE | Max pain | vs spot | Call OI | Put OI |
|---|---|---|---|---|---|
| Oct 28, 2026 | 2 | $400.00 | -26.1% | 0 | 0 |
| Oct 30, 2026 | 4 | $300.00 | -44.6% | 0 | 0 |
| Nov 2, 2026 | 7 | $345.00 | -36.3% | 0 | 0 |
| Nov 4, 2026 | 9 | $390.00 | -28.0% | 0 | 0 |
| Nov 6, 2026 | 11 | $300.00 | -44.6% | 0 | 0 |
| Nov 13, 2026 | 18 | $275.00 | -49.2% | 0 | 0 |
| Nov 20, 2026 | 25 | $235.00 | -56.6% | 575 | 213 |
| Nov 27, 2026 | 32 | $270.00 | -50.1% | 0 | 0 |
| Dec 4, 2026 | 39 | $270.00 | -50.1% | 0 | 0 |
| Dec 18, 2026 | 53 | $210.00 | -61.2% | 2,205 | 1,361 |
| Jan 15, 2027 | 81 | $100.00 | -81.5% | 1,649 | 8 |
| Feb 19, 2027 | 116 | $480.00 | -11.4% | 164 | 75 |
How this is calculated: Max Pain methodology