SCHD max pain

From the closing options book · October 20, 2026 · updated after every close

SCHD's max pain for the October 23, 2026 expiration was 33.5 at the October 20, 2026 close, −3.4% from SCHD's 34.69 close. Max pain is the price at which option holders' total intrinsic value at expiry would be smallest.

33.5

Max pain

Oct 23 expiry

34.69

−3.4% to max pain

0.54

Put/call OI

0.2

Put/call volume

SCHD close vs max pain, last 20 sessions

Session	Close	Max pain	Gap
Oct 20	34.69	33.5	−3.4%
Oct 19	34.24	33.5	−2.2%
Oct 16	34.35	33.5	−2.5%
Oct 15	34.10	33	−3.2%
Oct 14	33.71	33	−2.1%
Oct 13	33.37	33	−1.1%
Oct 12	33.26	33	−0.8%
Oct 9	33.04	33	−0.1%
Oct 8	33.15	33	−0.5%
Oct 7	32.65	33	+1.1%
Oct 6	32.85	33	+0.5%
Oct 5	32.72	33.5	+2.4%
Oct 2	32.72	33.5	+2.4%
Oct 1	32.66	33	+1.0%
Sep 30	32.53	33	+1.4%
Sep 29	32.85	33.5	+2.0%
Sep 28	33.01	34	+3.0%
Sep 25	33.21	34	+2.4%
Sep 24	33.10	34	+2.7%
Sep 23	33.28	34.5	+3.7%

The session before, max pain sat at 33.5.

Open interest within 45 days stood at 31,388 calls and 17,081 puts, a put/call ratio of 0.54. On the day, 3,479 calls and 680 puts traded.

Max pain is a property of the open-interest book, not a forecast: price has no obligation to finish there, and on most days it does not. It is most useful as a reference for where the expiring book is balanced.

These are the October 20, 2026 closing numbers. Members see SCHD's map move live all session.

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Common questions

What is SCHD's max pain?

33.5 for the October 23, 2026 expiration, from open interest at the October 20, 2026 close.

What is SCHD's put/call ratio?

By open interest 0.54; by volume 0.2 on October 20, 2026.

Does SCHD close at max pain?

Not reliably. Max pain describes where the expiring options book is balanced; it is a reference level, not a prediction.

Compare: max pain on other tickers

RVMD RY SAP SBUX SCHW SCHX SE SEDG SPY QQQ All tickers →

Measured from the closing options book and rebuilt after every close. Nothing on this page is live. Levels are where dealer hedging is concentrated, not targets or forecasts. Not investment advice.