This page reflects BAND 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 — BAND
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $55.00 (6.60 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$7.88
±12.8%
Days to Expiry
15
Calendar days
Total Call OI
2,021
Nearest expiry
Total Put OI
1,580
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$61.60
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
$45.00
5/15/2026, 11:05:05 PM
2026-06-18
$40.00
6/18/2026, 11:06:30 PM
2026-07-17NextUpdated
$55.00
7/3/2026, 11:05:26 PM
2026-08-21
$12.50
7/3/2026, 11:05:26 PM
2026-11-20
$5.00
7/3/2026, 11:05:26 PM
2027-02-19
$30.00
7/3/2026, 11:05:26 PM
2027-03-19
$45.00
7/3/2026, 11:05:26 PM
Selected expiration: 2026-07-17 at max pain $55.00.
BAND pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
3386500
3386500
40
500
2602000
2602500
45
2500
1831000
1833500
50
14500
1086000
1100500
55
268500
380000
648500
60
548000
198000
746000
65
895500
29000
924500
70
1626500
2000
1628500
75
2403000
1000
2404000
80
3246000
0
3246000
85
4218000
0
4218000
90
5217500
0
5217500
100
7227500
0
7227500
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.