This page reflects BFLY 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 — BFLY
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $5.00 (2.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$1.40
±18.2%
Days to Expiry
15
Calendar days
Total Call OI
28,617
Nearest expiry
Total Put OI
10,233
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$7.68
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
$4.50
5/15/2026, 11:05:42 PM
2026-06-18
$4.50
6/18/2026, 11:07:00 PM
2026-07-17NextUpdated
$5.00
7/3/2026, 11:06:37 PM
2026-08-21
$7.50
7/3/2026, 11:06:37 PM
2026-10-16
$5.00
7/3/2026, 11:06:37 PM
2027-01-15
$3.00
7/3/2026, 11:06:37 PM
Selected expiration: 2026-07-17 at max pain $5.00.
BFLY pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
5257250
5257250
1
1050
4745800
4746850
1.5
3250
4234350
4237600
2
9300
3722900
3732200
2.5
17100
3211450
3228550
3
27500
2709000
2736500
3.5
84050
2228650
2312700
4
153150
1784850
1938000
4.5
274550
1400950
1675500
5
489100
1084900
1574000
5.5
909150
811350
1720500
7.5
3492350
60750
3553100
10
7945100
0
7945100
12.5
14841850
0
14841850
15
21961600
0
21961600
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.