This page reflects ARES 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 — ARES
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $121.00 (4.10 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$121.00
Nearest expiry
Expected Move
±$2.75
±2.4%
Days to Expiry
8
Calendar days
Total Call OI
61
Nearest expiry
Total Put OI
208
Nearest expiry
P/C OI Ratio
3.41
Put-heavy
Spot Price
$116.90
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$120.00
6/26/2026, 11:04:13 PM
2026-07-02
$114.00
7/2/2026, 11:04:53 PM
2026-07-10NextUpdated
$121.00
7/3/2026, 11:03:29 PM
2026-07-17
$121.00
7/3/2026, 11:03:29 PM
2026-07-24
$112.00
7/3/2026, 11:03:29 PM
2026-07-31
$126.00
7/3/2026, 11:03:29 PM
2026-08-07
$110.00
7/3/2026, 11:03:29 PM
2026-08-21
$125.00
7/3/2026, 11:03:29 PM
2026-09-18
$130.00
7/3/2026, 11:03:29 PM
2026-11-20
$120.00
7/3/2026, 11:03:29 PM
2026-12-18
$150.00
7/3/2026, 11:03:29 PM
2027-01-15
$140.00
7/3/2026, 11:03:29 PM
2027-02-19
$95.00
7/3/2026, 11:03:29 PM
Selected expiration: 2026-07-10 at max pain $121.00.
ARES pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
159000
159000
104
0
83800
83800
105
0
65700
65700
108
0
39300
39300
109
0
33900
33900
110
0
29300
29300
111
0
24800
24800
113
0
16000
16000
114
0
13400
13400
115
0
11000
11000
116
0
9100
9100
117
0
7600
7600
118
400
6100
6500
119
800
4900
5700
120
1200
4300
5500
121
1700
3700
5400
124
3200
2200
5400
125
4800
1800
6600
129
16000
200
16200
130
18800
0
18800
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.