This page reflects CFR 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 — CFR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $135.00 (19.86 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$2.45
±1.6%
Days to Expiry
15
Calendar days
Total Call OI
1,444
Nearest expiry
Total Put OI
39
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$154.86
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
$135.00
5/15/2026, 11:08:24 PM
2026-06-18
$140.00
6/18/2026, 11:07:19 PM
2026-07-17NextUpdated
$135.00
7/3/2026, 11:08:46 PM
2026-10-16
$155.00
7/3/2026, 11:08:46 PM
2027-01-15
$135.00
7/3/2026, 11:08:46 PM
Selected expiration: 2026-07-17 at max pain $135.00.
CFR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
230500
230500
75
0
192500
192500
85
0
155500
155500
90
0
137500
137500
95
500
119500
120000
100
1000
102500
103500
105
1500
87000
88500
110
2000
73000
75000
115
2500
59500
62000
120
3000
46500
49500
125
3500
34000
37500
130
4000
23500
27500
135
5000
13500
18500
140
31000
5500
36500
145
69500
0
69500
150
117000
0
117000
155
170500
0
170500
160
853000
0
853000
165
1556500
0
1556500
170
2278000
0
2278000
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.