Canadian Natural Resources LimiClose $39.64EOD only
Max Pain
$40.00
Next expiry Jul 10, 2026
Expected Move
±$1.38
3.5% from close
Price Gap
+0.36
Distance to max pain
IV Rank
2
Low premium
P/C OI
0.30
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects CNQ 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 — CNQ
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $40.00 (0.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$1.38
±3.5%
Days to Expiry
8
Calendar days
Total Call OI
340
Nearest expiry
Total Put OI
58
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$39.64
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
$42.00
6/26/2026, 11:09:02 PM
2026-07-02
$40.00
7/2/2026, 11:08:18 PM
2026-07-10NextUpdated
$40.00
7/3/2026, 11:08:12 PM
2026-07-17
$42.00
7/3/2026, 11:08:12 PM
2026-07-24
$38.00
7/3/2026, 11:08:12 PM
2026-07-31
$40.00
7/3/2026, 11:08:12 PM
2026-08-07
$40.00
7/3/2026, 11:08:12 PM
2026-08-21
$37.50
7/3/2026, 11:08:12 PM
2026-09-18
$42.50
7/3/2026, 11:08:12 PM
2026-12-18
$35.00
7/3/2026, 11:08:12 PM
2027-01-15
$32.50
7/3/2026, 11:08:12 PM
Selected expiration: 2026-07-10 at max pain $40.00.
CNQ pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
86250
86250
36
0
22450
22450
36.5
0
19600
19600
37
0
16850
16850
37.5
0
14200
14200
38
0
12200
12200
39
200
8200
8400
40
500
5100
5600
40.5
1750
4300
6050
41
3950
3500
7450
41.5
6900
2850
9750
42
12000
2200
14200
42.5
17800
1950
19750
43
23750
1700
25450
44
39050
1300
40350
45
55150
900
56050
46
71650
600
72250
47
92050
300
92350
48
113950
0
113950
49
136850
0
136850
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.