This page reflects CAI 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 — CAI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $20.00 (1.70 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$3.15
±17.2%
Days to Expiry
15
Calendar days
Total Call OI
2,601
Nearest expiry
Total Put OI
891
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$18.30
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
$17.50
5/15/2026, 11:06:16 PM
2026-06-18
$15.00
6/18/2026, 11:03:44 PM
2026-07-17NextUpdated
$20.00
7/3/2026, 11:07:05 PM
2026-08-21
$20.00
7/3/2026, 11:07:05 PM
2026-10-16
$15.00
7/3/2026, 11:07:05 PM
2026-12-18
$12.50
7/3/2026, 11:07:05 PM
2027-01-15
$15.00
7/3/2026, 11:07:05 PM
2027-03-19
$17.50
7/3/2026, 11:07:05 PM
Selected expiration: 2026-07-17 at max pain $20.00.
CAI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1304000
1304000
7.5
250
1081250
1081500
10
750
858500
859250
12.5
1250
639750
641000
15
20000
434500
454500
17.5
56500
235250
291750
20
188500
94500
283000
22.5
556250
59250
615500
25
991000
24000
1015000
30
1936000
12000
1948000
35
3053000
0
3053000
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.