S&T Bancorp, Inc. (STBA) Max Pain Analysis
Max pain is the strike price where aggregate option buyer payout is minimized at expiration. It represents the price at which option writers retain the most premium.
S&T Bancorp, Inc. (STBA) operates in the Financial Services sector, specifically the Banks - Regional industry, with a market capitalization near $1.70B, listed on NASDAQ, employing roughly 1,209 people, carrying a beta of 0.84 to the broader market. S&T Bancorp, Inc. Led by Christopher J. McComish, public since 1992-04-21.
Snapshot as of Oct 14, 2026.
- Spot Price
- $47.84
- Total OI
- 16
How to read the STBA max-pain chart
The open-interest histogram above shows where S&T Bancorp, Inc. call and put writers have stacked the most inventory. Strikes with elevated call OI act as overhead resistance when dealers are long-gamma (they sell rallies into the wall); strikes with elevated put OI act as support (dealers buy dips toward the wall). The max-pain strike is the single price at which the total cash payout to option holders is minimized - the lowest-pain price for the writers as a group. . Net dealer gamma is positive at $2.1K, so as spot moves dealers sell rallies and buy dips, mechanically dampening realized volatility.
STBA max-pain in context
Max pain is an end-of-cycle convergence signal, not an intraday compass. Cross-reference the level with the gamma-flip strike on the GEX page, the front-month ATM IV reading (currently 41.0%), and any catalyst risk on the calendar. Total listed OI on STBA sits at 16 contracts; pin strength generally scales with this number, since heavier OI means more delta to hedge as spot drifts toward the strike. A pin can fail - earnings, FDA decisions, central-bank surprises, and other vol catalysts can rip spot past max pain regardless of where dealers want it. Use max pain to size risk-defined structures, not as a directional thesis.
Reading STBA max-pain alongside dealer positioning
The clean version of the max-pain mechanism requires positive dealer gamma to enforce convergence; in a negative-gamma regime the same OI distribution can repel rather than attract spot. STBA is currently in a positive-gamma regime, so the max-pain pull mechanic is structurally active. Combine the pin level with the gamma-flip level and the implied move to model out where spot is likely to anchor through expiration.