This page reflects CGAU 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 — CGAU
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $12.50 (4.08 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$1.98
±11.9%
Days to Expiry
15
Calendar days
Total Call OI
9,596
Nearest expiry
Total Put OI
902
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$16.58
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
$12.50
5/15/2026, 11:07:34 PM
2026-06-18
$15.00
6/18/2026, 11:03:51 PM
2026-07-17NextUpdated
$12.50
7/3/2026, 11:06:56 PM
2026-08-21
$10.00
7/3/2026, 11:06:56 PM
2026-10-16
$17.50
7/3/2026, 11:06:56 PM
2027-01-15
$12.50
7/3/2026, 11:06:56 PM
Selected expiration: 2026-07-17 at max pain $12.50.
CGAU pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
1123750
1123750
5
0
898250
898250
7.5
1500
672750
674250
10
30000
447250
477250
12.5
182500
223250
405750
15
456750
53250
510000
17.5
1031000
15250
1046250
20
2102500
0
2102500
22.5
3910500
0
3910500
25
6002000
0
6002000
30
10502000
0
10502000
35
15156000
0
15156000
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.