This page reflects ADTN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Jul 2, 2026 close
Max Pain — ADTN
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $15.00 (2.29 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$1.75
±13.8%
Days to Expiry
15
Calendar days
Total Call OI
6,200
Nearest expiry
Total Put OI
1,058
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$12.71
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-05-15
$16.00
5/15/2026, 11:01:29 PM
2026-06-18
$15.00
6/18/2026, 11:01:29 PM
2026-07-17NextUpdated
$15.00
7/3/2026, 11:01:22 PM
2026-08-21
$11.00
7/3/2026, 11:01:22 PM
2026-11-20
$12.00
7/3/2026, 11:01:22 PM
2027-01-15
$15.00
7/3/2026, 11:01:22 PM
2027-02-19
$8.00
7/3/2026, 11:01:22 PM
Selected expiration: 2026-07-17 at max pain $15.00.
ADTN pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
7
0
877800
877800
8
500
772100
772600
9
1500
667000
668500
10
2700
562100
564800
11
4700
457900
462600
12
7000
354600
361600
13
14700
252500
267200
14
22500
159600
182100
15
41300
76600
117900
16
95600
59100
154700
17
190900
46400
237300
18
381300
36000
417300
19
592300
28000
620300
20
831500
21600
853100
21
1337800
18500
1356300
22
1921200
15700
1936900
23
2516600
13400
2530000
24
3125100
11500
3136600
25
3733700
9700
3743400
26
4346800
8100
4354900
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.