British American Tobacco IndusClose $61.77EOD only
Max Pain
$60.00
Next expiry Jul 17, 2026
Expected Move
±$2.78
4.5% from close
Price Gap
-1.77
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.42
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects BTI 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 — BTI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $60.00 (1.77 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$2.78
±4.5%
Days to Expiry
15
Calendar days
Total Call OI
9,102
Nearest expiry
Total Put OI
2,966
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$61.77
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
$55.00
5/15/2026, 11:08:16 PM
2026-06-18
$55.00
6/18/2026, 11:06:48 PM
2026-07-17NextUpdated
$60.00
7/3/2026, 11:05:59 PM
2026-08-21
$65.00
7/3/2026, 11:05:59 PM
2026-09-18
$60.00
7/3/2026, 11:05:59 PM
2026-12-18
$50.00
7/3/2026, 11:05:59 PM
2027-01-15
$50.00
7/3/2026, 11:05:59 PM
2027-03-19
$60.00
7/3/2026, 11:05:59 PM
Selected expiration: 2026-07-17 at max pain $60.00.
BTI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
7461500
7461500
40
500
5979000
5979500
45
4500
4496500
4501000
50
11500
3014000
3025500
55
28000
1598000
1626000
60
244500
445500
690000
65
1029000
9000
1038000
70
3777000
0
3777000
75
7460500
0
7460500
80
12008000
0
12008000
85
16558500
0
16558500
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.