What is CMG max pain this week?

CMG max pain for the nearest expiration (2026-07-10) is $32.50. Total call open interest: 14,617. Total put open interest: 5,517.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options CMGMax Pain

CMG

Chipotle Mexican Grill, Inc.Close $35.39EOD only

Max Pain

$32.50

Next expiry Jul 10, 2026

Expected Move

±$0.62

1.8% from close

Price Gap

-2.89

Distance to max pain

IV Rank

Low premium

P/C OI

1.08

Balanced positioning

Consensus

5.0/10

Range bias

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

This page reflects CMG 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 — CMG

Data as of market close Jul 2, 2026

Open Directional Report

Nearest listed expiration 2026-07-10 shows max pain at $32.50 (2.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$32.50

Nearest expiry

Expected Move

±$0.62

±1.8%

Days to Expiry

Calendar days

Total Call OI

14,617

Nearest expiry

Total Put OI

5,517

Nearest expiry

P/C OI Ratio

0.38

Put-heavy

Spot Price

$35.39

Published close

Consensus

5.0/10

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	$31.50	6/26/2026, 11:08:41 PM
2026-07-02	$32.00	7/2/2026, 11:07:46 PM
2026-07-10NextUpdated	$32.50	7/3/2026, 11:08:52 PM
2026-07-17	$32.50	7/3/2026, 11:08:52 PM
2026-07-24	$33.00	7/3/2026, 11:08:52 PM
2026-07-31	$32.00	7/3/2026, 11:08:52 PM
2026-08-07	$32.00	7/3/2026, 11:08:52 PM
2026-08-21	$32.50	7/3/2026, 11:08:52 PM
2026-09-18	$35.00	7/3/2026, 11:08:52 PM
2026-12-18	$45.00	7/3/2026, 11:08:52 PM
2027-01-15	$40.00	7/3/2026, 11:08:52 PM
2027-03-19	$37.50	7/3/2026, 11:08:52 PM
2027-06-17	$32.50	7/3/2026, 11:08:52 PM

Selected expiration: 2026-07-10 at max pain $32.50.

CMG pain by strike for 2026-07-10 expiration
Strike	Call Pain	Put Pain	Total Pain
19	0	6513000	6513000
20	200	5961600	5961800
21	700	5410300	5411000
22	1300	4859400	4860700
23	1900	4308700	4310600
24	2500	3758500	3761000
25	3100	3214300	3217400
26	5100	2708100	2713200
27	7300	2213000	2220300
27.5	8750	1973550	1982300
28	10200	1734150	1744350
28.5	11800	1504350	1516150
29	13400	1274850	1288250
29.5	18000	1057250	1075250
30	22600	848650	871250
30.5	31050	651000	682050
31	41650	455300	496950
31.5	85600	354300	439900
32	131100	262600	393700
32.5	199350	192750	392100

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.