This page reflects BOX 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 — BOX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $25.00 (2.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$1.68
±6.0%
Days to Expiry
15
Calendar days
Total Call OI
1,828
Nearest expiry
Total Put OI
676
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$27.89
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
$23.00
5/15/2026, 11:07:51 PM
2026-06-18
$25.00
6/18/2026, 11:06:26 PM
2026-07-17NextUpdated
$25.00
7/3/2026, 11:06:37 PM
2026-08-21
$25.00
7/3/2026, 11:06:37 PM
2026-09-18
$25.00
7/3/2026, 11:06:37 PM
2026-12-18
$26.00
7/3/2026, 11:06:37 PM
2027-01-15
$28.00
7/3/2026, 11:06:37 PM
Selected expiration: 2026-07-17 at max pain $25.00.
BOX pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
17
0
562200
562200
18
0
494700
494700
19
0
427300
427300
20
100
359900
360000
21
1000
293800
294800
22
1900
228100
230000
23
2900
162700
165600
24
4200
102200
106400
25
7500
51100
58600
26
71000
21800
92800
27
160700
7100
167800
28
269100
0
269100
29
395000
0
395000
30
545300
0
545300
31
718800
0
718800
32
898300
0
898300
33
1078200
0
1078200
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.