This page reflects AER 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 — AER
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $140.00 (7.84 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$140.00
Nearest expiry
Expected Move
±$6.60
±4.5%
Days to Expiry
15
Calendar days
Total Call OI
2,390
Nearest expiry
Total Put OI
3,924
Nearest expiry
P/C OI Ratio
1.64
Put-heavy
Spot Price
$147.84
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
$140.00
5/15/2026, 11:01:42 PM
2026-06-18
$140.00
6/18/2026, 11:02:02 PM
2026-07-17NextUpdated
$140.00
7/3/2026, 11:01:33 PM
2026-08-21
$145.00
7/3/2026, 11:01:33 PM
2026-09-18
$130.00
7/3/2026, 11:01:33 PM
2026-10-16
$140.00
7/3/2026, 11:01:33 PM
2027-01-15
$75.00
7/3/2026, 11:01:33 PM
Selected expiration: 2026-07-17 at max pain $140.00.
AER pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
22845000
22845000
80
0
20883000
20883000
90
0
16964000
16964000
95
0
15005000
15005000
100
15000
13046000
13061000
105
30000
11098000
11128000
110
47500
9150500
9198000
115
65000
7205500
7270500
120
82500
5262500
5345000
125
101000
3669500
3770500
130
122500
2084000
2206500
135
149500
862000
1011500
140
256000
72000
328000
145
530000
8500
538500
150
1047500
1000
1048500
155
1860500
0
1860500
160
2791000
0
2791000
165
3866000
0
3866000
170
4991500
0
4991500
175
6163000
0
6163000
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.