This page reflects CBZ 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 — CBZ
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $30.00 (5.12 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$3.85
±11.0%
Days to Expiry
15
Calendar days
Total Call OI
1,218
Nearest expiry
Total Put OI
592
Nearest expiry
P/C OI Ratio
0.49
Put-heavy
Spot Price
$35.12
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
$25.00
5/15/2026, 11:09:43 PM
2026-06-18
$35.00
6/18/2026, 11:06:58 PM
2026-07-17NextUpdated
$30.00
7/3/2026, 11:07:14 PM
2026-08-21
$35.00
7/3/2026, 11:07:14 PM
2026-10-16
$25.00
7/3/2026, 11:07:14 PM
2027-01-15
$40.00
7/3/2026, 11:07:14 PM
2027-04-16
$12.50
7/3/2026, 11:07:14 PM
Selected expiration: 2026-07-17 at max pain $30.00.
CBZ pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
746000
746000
17.5
0
598500
598500
20
0
472250
472250
22.5
0
350500
350500
25
0
253500
253500
30
18500
77500
96000
35
485500
14500
500000
40
1032500
2500
1035000
45
1588000
0
1588000
50
2178000
0
2178000
55
2768000
0
2768000
60
3375500
0
3375500
70
4591500
0
4591500
75
5200000
0
5200000
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.