This page reflects BWA 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 — BWA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $67.50 (3.98 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$67.50
Nearest expiry
Expected Move
±$4.83
±7.6%
Days to Expiry
15
Calendar days
Total Call OI
15,942
Nearest expiry
Total Put OI
8,241
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$63.52
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, 11:03:38 PM
2026-06-18
$67.50
6/18/2026, 11:07:37 PM
2026-07-17NextUpdated
$67.50
7/3/2026, 11:04:00 PM
2026-08-21
$67.50
7/3/2026, 11:04:00 PM
2026-10-16
$65.00
7/3/2026, 11:04:00 PM
2026-11-20
$65.00
7/3/2026, 11:04:00 PM
2026-12-18
$55.00
7/3/2026, 11:04:00 PM
2027-01-15
$70.00
7/3/2026, 11:04:00 PM
2027-06-17
$40.00
7/3/2026, 11:04:00 PM
Selected expiration: 2026-07-17 at max pain $67.50.
BWA pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
31274000
31274000
27.5
0
29215000
29215000
30
0
27156750
27156750
32.5
0
25104250
25104250
35
0
23052500
23052500
37.5
0
21002250
21002250
40
1000
18994000
18995000
42.5
5750
16991500
16997250
45
38250
14990750
15029000
47.5
138000
13023000
13161000
50
263000
11067250
11330250
52.5
407500
9144000
9551500
55
574000
7338250
7912250
57.5
770500
5580000
6350500
60
981000
4276750
5257750
62.5
1357750
3131750
4489500
65
1750250
2076000
3826250
67.5
2660500
1143750
3804250
70
3855250
278500
4133750
72.5
5357750
126500
5484250
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.