This page reflects ALK 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 — ALK
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $45.00 (6.09 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$5.98
±11.7%
Days to Expiry
15
Calendar days
Total Call OI
55,873
Nearest expiry
Total Put OI
10,915
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$51.09
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
$40.00
5/15/2026, 11:02:19 PM
2026-06-18
$40.00
6/18/2026, 11:02:30 PM
2026-07-17NextUpdated
$45.00
7/3/2026, 11:02:20 PM
2026-08-21
$50.00
7/3/2026, 11:02:20 PM
2026-09-18
$42.50
7/3/2026, 11:02:20 PM
2026-10-16
$45.00
7/3/2026, 11:02:20 PM
2026-12-18
$45.00
7/3/2026, 11:02:20 PM
2027-01-15
$45.00
7/3/2026, 11:02:20 PM
Selected expiration: 2026-07-17 at max pain $45.00.
ALK pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
21335000
21335000
22.5
19000
18619500
18638500
25
38000
15979250
16017250
27.5
68500
13427250
13495750
30
102750
10932250
11035000
32.5
169250
8488250
8657500
35
241250
6406500
6647750
37.5
397500
4652000
5049500
40
586250
3117250
3703500
42.5
918000
1795250
2713250
45
1806250
893000
2699250
47.5
3651250
454250
4105500
50
6154500
143750
6298250
52.5
11239000
46250
11285250
55
20063500
12500
20076000
57.5
30710500
6000
30716500
60
44224250
0
44224250
62.5
57957000
0
57957000
65
71719500
0
71719500
67.5
85515000
0
85515000
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.