This page reflects BMA 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 — BMA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $95.00 (4.76 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$6.45
±7.2%
Days to Expiry
15
Calendar days
Total Call OI
1,229
Nearest expiry
Total Put OI
1,476
Nearest expiry
P/C OI Ratio
1.20
Put-heavy
Spot Price
$90.24
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
$75.00
5/15/2026, 11:06:40 PM
2026-06-18
$80.00
6/18/2026, 11:05:56 PM
2026-07-17NextUpdated
$95.00
7/3/2026, 11:05:48 PM
2026-10-16
$95.00
7/3/2026, 11:05:48 PM
2027-01-15
$80.00
7/3/2026, 11:05:48 PM
Selected expiration: 2026-07-17 at max pain $95.00.
BMA pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
5730000
5730000
45
0
4992000
4992000
50
0
4264000
4264000
55
2000
3536000
3538000
60
4000
2809500
2813500
65
6000
2198500
2204500
70
8000
1626000
1634000
75
12500
1191500
1204000
80
34500
860000
894500
85
178500
571500
750000
90
344000
285500
629500
95
537500
17000
554500
100
772000
13000
785000
105
1103500
9000
1112500
110
1476000
5500
1481500
115
1885000
2000
1887000
120
2301500
1000
2302500
125
2851000
500
2851500
130
3451000
0
3451000
135
4055000
0
4055000
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.