SPY Options Greeks
SPY is the SPDR S&P 500 ETF. SPY max pain for the nearest expiry (2026-11-02) is $758, across 33 expirations. View historical max pain, max pain per expiration, and options greeks including Delta, Gamma, Theta, and Vega.
- Max pain (2026-11-02)
- $758
- Expirations
- 33
- Name
- SPDR S&P 500 ETF
- Type
- ETF
- Market cap
- $804.79B
- Avg. daily volume (30d)
- 39.47M
Frequently asked questions
- What is SPY max pain?
- SPY max pain for the nearest expiry (2026-11-02) is $758. Max pain is the strike price where the most options contracts expire worthless, causing maximum loss for option holders and minimum payout by option writers.
- How does SPY max pain affect price?
- Max pain theory suggests that SPY stock price tends to gravitate toward the max pain strike as expiration approaches, because market makers hedge their positions. Tracking max pain across expirations helps identify potential price magnets.
- What are SPY options greeks?
- Options greeks measure the sensitivity of SPY option prices to various factors: Delta (price direction), Gamma (delta acceleration), Theta (time decay), and Vega (volatility sensitivity). Combine these with max pain levels to time entries and exits.