This page reflects BBW 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 — BBW
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $32.50 (1.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.50
Nearest expiry
Expected Move
±$3.33
±10.6%
Days to Expiry
15
Calendar days
Total Call OI
620
Nearest expiry
Total Put OI
997
Nearest expiry
P/C OI Ratio
1.61
Put-heavy
Spot Price
$31.50
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
$37.50
5/15/2026, 11:05:14 PM
2026-06-18
$40.00
6/18/2026, 11:05:27 PM
2026-07-17NextUpdated
$32.50
7/3/2026, 11:05:49 PM
2026-08-21
$25.00
7/3/2026, 11:05:49 PM
2026-09-18
$40.00
7/3/2026, 11:05:49 PM
2026-12-18
$32.50
7/3/2026, 11:05:49 PM
Selected expiration: 2026-07-17 at max pain $32.50.
BBW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
936500
936500
22.5
0
687500
687500
25
0
459750
459750
27.5
0
232750
232750
30
2750
148500
151250
32.5
15500
76750
92250
35
68250
29750
98000
37.5
154500
2500
157000
40
256750
0
256750
42.5
376750
0
376750
45
500750
0
500750
47.5
635250
0
635250
50
770500
0
770500
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.