TheTradeFormula Eagle Eye

Max Pain Calculator

Calculate the max pain strike by analyzing open interest data across strikes.

Max Pain Calculator

Upload a CSV file with columns: strike,CE_OI,PE_OI

What is Max Pain?

Max pain is the strike price where the largest number of options expire worthless, causing maximum financial loss to option holders. This concept is based on the theory that option writers (who collect premiums) benefit when options expire worthless.

How to Use:

  1. Download or export open interest data from your broker in CSV format
  2. Ensure the CSV has columns: strike, CE_OI, PE_OI
  3. Upload the file using the calculator above
  4. The max pain strike will be identified automatically

Traders use max pain as one indicator among many for predicting expiration-day price direction.

Advanced Options Analysis

Get real-time max pain calculations with our AI TradingView Extension

Start Using Eagle Eye