This page reflects CME 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 — CME
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $230.00 (6.60 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$8.43
±3.6%
Days to Expiry
8
Calendar days
Total Call OI
2,092
Nearest expiry
Total Put OI
1,161
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$236.60
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$240.00
6/26/2026, 11:09:14 PM
2026-07-02
$227.50
7/2/2026, 11:08:27 PM
2026-07-10NextUpdated
$230.00
7/3/2026, 11:08:11 PM
2026-07-17
$245.00
7/3/2026, 11:08:11 PM
2026-07-24
$225.00
7/3/2026, 11:08:11 PM
2026-07-31
$255.00
7/3/2026, 11:08:11 PM
2026-08-07
$245.00
7/3/2026, 11:08:11 PM
2026-08-21
$250.00
7/3/2026, 11:08:11 PM
2026-09-18
$260.00
7/3/2026, 11:08:11 PM
2026-12-18
$240.00
7/3/2026, 11:08:11 PM
2027-01-15
$250.00
7/3/2026, 11:08:11 PM
2027-03-19
$290.00
7/3/2026, 11:08:11 PM
2027-06-17
$220.00
7/3/2026, 11:08:11 PM
Selected expiration: 2026-07-10 at max pain $230.00.
CME pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
180
0
5642250
5642250
200
0
3332250
3332250
205
0
2758250
2758250
210
0
2191250
2191250
212.5
0
1915500
1915500
215
750
1639750
1640500
217.5
3000
1368500
1371500
220
5250
1102500
1107750
222.5
9750
864500
874250
225
28000
626500
654500
227.5
53500
467000
520500
230
86000
383250
469250
232.5
203750
310250
514000
235
331250
245750
577000
237.5
480500
187750
668250
240
648000
132250
780250
242.5
868500
91000
959500
245
1093750
50000
1143750
247.5
1337500
36500
1374000
250
1581500
23000
1604500
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.