Max pain for every Bitcoin and Ethereum options expiry: the settlement price at which the open options would pay their holders the least, from the open interest on Deribit, OKX, Bybit and Binance added together. Each coin has a page with every expiry, the exchanges’ own figures and the largest strikes.
Latest read: · Open interest from Deribit, OKX, Bybit and Binance · refreshed about every 15 minutes
2 of 2 coins have a current read.
Max pain by coin
For each coin: the Deribit index, the next expiry and its max pain against the index, the next month-end expiry’s max pain, and open interest and the put/call ratio over every expiry. Open a coin for every expiry.
For each expiry, every listed strike is taken in turn as the settlement price, and the strike at which the open calls and puts would pay their holders the least in total is max pain. Open interest is counted in coins on Deribit, OKX, Bybit and Binance and added together; dollar figures are at the Deribit index.
The figures are refreshed about every 15 minutes, and an expiry that settles leaves the page at once. Without a current read from Deribit, the largest of the four, the page shows no numbers rather than a misleading total; an exchange that does not answer is named and left out.
What max pain does not tell you
Max pain is a reading of where open interest sits, not a forecast. Open interest does not say who bought and who sold, and the price often settles far from max pain. Market information, not investment advice.
Questions about crypto max pain
What is max pain in crypto options?
Max pain is the settlement price at which the open options of one expiry would pay their holders the least in total. This page works it out for every Bitcoin and Ethereum options expiry from the open interest on Deribit, OKX, Bybit and Binance, added together.
When do Bitcoin and Ethereum options expire?
On Deribit, OKX, Bybit and Binance, they expire at 08:00 UTC on their expiry date: daily, weekly on Fridays, monthly on the last Friday of the month and quarterly on the last Friday of March, June, September and December.
Does the price move toward max pain before expiry?
There is no rule that it does. Max pain is a reading of where open interest sits, not a forecast: open interest does not say who bought and who sold, and the price often settles far from max pain. Market information, not investment advice.
Is this free, and where is the live data?
These pages are free to read, with no account. The live options chain, volatility, Greeks and the Options Levels lines on the chart are in the AlertaChart app’s Options workspace, part of the Pro and Elite plans. Eligible new subscribers on iOS or Android may see a free trial of up to 7 days on some plans; web purchases do not include a trial.
The live options chain, volatility, Greeks and the Options Levels lines on the chart (max pain, call and put walls, gamma flip) are part of the Pro and Elite plans. AlertaChart puts stocks, forex, commodities, indices and crypto on one chart. Eligible new subscribers on iOS or Android may see a free trial of up to 7 days on some plans; web purchases do not include a trial.
