This page reflects AIR 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 — AIR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $130.00 (10.11 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$6.30
±4.5%
Days to Expiry
15
Calendar days
Total Call OI
269
Nearest expiry
Total Put OI
118
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$140.11
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
$90.00
5/15/2026, 11:01:48 PM
2026-06-18
$115.00
6/18/2026, 11:02:46 PM
2026-07-17NextUpdated
$130.00
7/3/2026, 11:02:04 PM
2026-08-21
$100.00
7/3/2026, 11:02:04 PM
2026-11-20
$120.00
7/3/2026, 11:02:04 PM
2026-12-18
$90.00
7/3/2026, 11:02:04 PM
2027-02-19
$150.00
7/3/2026, 11:02:04 PM
Selected expiration: 2026-07-17 at max pain $130.00.
AIR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
851500
851500
80
5000
556500
561500
85
6000
498000
504000
90
7000
440500
447500
95
8000
385500
393500
100
13000
331000
344000
105
19000
281000
300000
110
26000
232000
258000
115
34000
183500
217500
120
42500
139000
181500
125
51500
101500
153000
130
71500
67000
138500
135
97000
54000
151000
140
133000
45000
178000
145
193000
36000
229000
150
260500
27000
287500
155
380000
18000
398000
160
511000
9000
520000
165
643500
0
643500
170
776500
0
776500
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.