This page reflects BMO 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 — BMO
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $165.00 (9.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$165.00
Nearest expiry
Expected Move
±$5.57
±3.2%
Days to Expiry
15
Calendar days
Total Call OI
2,672
Nearest expiry
Total Put OI
2,396
Nearest expiry
P/C OI Ratio
0.90
Put-heavy
Spot Price
$174.13
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
$150.00
5/15/2026, 11:06:12 PM
2026-06-18
$150.00
6/18/2026, 11:07:40 PM
2026-07-17NextUpdated
$165.00
7/3/2026, 11:06:15 PM
2026-08-21
$175.00
7/3/2026, 11:06:15 PM
2026-09-18
$150.00
7/3/2026, 11:06:15 PM
2026-11-20
$150.00
7/3/2026, 11:06:15 PM
2026-12-18
$175.00
7/3/2026, 11:06:15 PM
2027-01-15
$145.00
7/3/2026, 11:06:15 PM
Selected expiration: 2026-07-17 at max pain $165.00.
BMO pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
10384500
10384500
125
0
9188500
9188500
140
0
5606500
5606500
145
500
4414000
4414500
150
2500
3234000
3236500
155
119500
2076500
2196000
160
438500
1117500
1556000
165
1040000
437000
1477000
170
2140500
210500
2351000
175
3322500
39000
3361500
180
4577500
500
4578000
185
5853000
0
5853000
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.