RUT · expected move and max pain by expiry
Russell 2000 Index is priced to move 0.7% by 2026-Nov-10, with max pain at 2820.00.
Options price a ±0.65% move (about $18.29) by 2026-Nov-10 (Tue), a range of 2787.03 to 2823.61 from the last price of 2805.32. Max pain for that expiry is 2820.00.
RUT
Russell 2000 Index
Last
2805.32 -35.49 (-1.2%)
Next expiry move
±0.65% 1 day
Implied vol
12.5% 1 days
Put / call
0.88
Market open
Fetched 2026-11-10, 11:25:50 AM ET
Fetched 2026-11-10, 11:25:50 AM ET
expected range last price 2805.32 max painAxis 2730 to 2881, shared by every row
Expiry
Expected range (1 SD)
Expected move
Max pain
Odds inside
2026-Nov-10Tue, 1 day
2787.03
2823.61
Expected move±0.65%±$18.29
Max pain2820.000.5% above last price
Odds of closing inside68%put/call 0.88
2026-Nov-11Wed, 1 day
2768.72
2841.92
Expected move±1.30%±$36.60
Max pain2820.000.5% above last price
Odds of closing inside68%put/call 1.70
2026-Nov-12Thu, 2 days
2757.93
2852.71
Expected move±1.69%±$47.39
Max pain2825.000.7% above last price
Odds of closing inside68%put/call 3.28
2026-Nov-13Fri, 3 days
2747.88
2862.76
Expected move±2.05%±$57.44
Max pain2800.000.2% below last price
Odds of closing inside68%put/call 1.75
2026-Nov-16Mon, 6 days
2737.82
2872.83
Expected move±2.41%±$67.51
Max pain2810.000.2% above last price
Odds of closing inside68%put/call 2.01
Chart it: open RUT on TradingView and mark 2787.03 and 2823.61 to watch the 2026-Nov-10 range against the price. Partner link: we may earn a commission if you take a paid plan.
Key levels from open interest
2800.00 / 2880.00
The heaviest put open interest near the price sits at 2800.00 and the heaviest call open interest at 2880.00, weighted toward strikes close to the last price. Price sometimes gravitates toward large open interest into expiry.
RUT max pain by expiry
Russell 2000 Index's max pain for 2026-Nov-10 is 2820.00, 0.5% above the last price. It is the strike at which the calls and puts open for that expiry would pay out the least in total, computed from open interest. Price sometimes drifts toward it in the final session because of dealer hedging; treat it as a reference level, not a target. How max pain is calculated.
| Expiry | Max pain | From last price | Put/call |
|---|---|---|---|
| 2026-Nov-10 Tue | 2820.00 | +0.5% | 0.88 |
| 2026-Nov-11 Wed | 2820.00 | +0.5% | 1.70 |
| 2026-Nov-12 Thu | 2825.00 | +0.7% | 3.28 |
| 2026-Nov-13 Fri | 2800.00 | -0.2% | 1.75 |
| 2026-Nov-16 Mon | 2810.00 | +0.2% | 2.01 |
RUT put/call ratio
The put/call ratio for the 2026-Nov-10 expiry is 0.88: close to even between puts and calls. Readings well below 0.7 are often read as complacent and above 1.2 as fearful, and extremes are sometimes taken as contrarian signals, but on index products like SPY a high ratio is normal because puts are bought as insurance. It is a sentiment gauge, not a direction call. What the ratio measures and what it does not, or compare it with every tracked stock's put/call ratio today.
Reading the RUT expected move table
Each row is one expiry. The shaded band is the one-standard-deviation range the option chain implies for RUT on that date: the market gives roughly a two-in-three chance that RUT closes inside it and a one-in-three chance it closes outside. The black tick is the last traded price, 2805.32. The diamond is max pain, the strike where option holders would collect the least if the stock settled there.
The range widens with time because uncertainty compounds with the square root of time: the 2026-Nov-16 range (±2.41%) is wider than the 2026-Nov-10 range (±0.65%) even though the daily volatility behind both is the same. Read the methodology for the formulas, or the guide to what the expected move means in practice.
RUT here is the Russell 2000 Index itself, not a fund that follows it. Its options settle in cash, and this page reads the afternoon-settled series (RUTW), which trades until the close and settles on the closing level, so each range is for the close on that date. The morning-settled monthly contracts, which stop trading a day earlier, are left out.
Figures are derived from delayed public option data and recalculated through the trading day. Nothing on this page is investment advice. Machine-readable version: /api/expected-move/RUT. Every ticker the site tracks is listed at /stocks.
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