This page reflects CBT 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 — CBT
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $80.00 (6.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$4.88
±5.7%
Days to Expiry
15
Calendar days
Total Call OI
504
Nearest expiry
Total Put OI
70
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$86.35
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
$75.00
5/15/2026, 11:08:51 PM
2026-06-18
$80.00
6/18/2026, 11:04:34 PM
2026-07-17NextUpdated
$80.00
7/3/2026, 11:06:51 PM
2026-10-16
$80.00
7/3/2026, 11:06:51 PM
2027-01-15
$75.00
7/3/2026, 11:06:51 PM
Selected expiration: 2026-07-17 at max pain $80.00.
CBT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
241500
241500
50
0
171500
171500
55
0
139500
139500
60
0
111000
111000
65
0
84500
84500
70
0
63500
63500
75
1500
42500
44000
80
10000
23000
33000
85
57000
8000
65000
90
135500
0
135500
95
277000
0
277000
100
432000
0
432000
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.