This page reflects CPA 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 — CPA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $145.00 (7.65 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$145.00
Nearest expiry
Expected Move
±$8.48
±5.5%
Days to Expiry
15
Calendar days
Total Call OI
531
Nearest expiry
Total Put OI
436
Nearest expiry
P/C OI Ratio
0.82
Put-heavy
Spot Price
$152.65
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
$120.00
5/15/2026, 11:09:31 PM
2026-06-18
$135.00
6/18/2026, 11:08:36 PM
2026-07-17NextUpdated
$145.00
7/3/2026, 11:09:39 PM
2026-08-21
$140.00
7/3/2026, 11:09:39 PM
2026-11-20
$120.00
7/3/2026, 11:09:39 PM
2026-12-18
$115.00
7/3/2026, 11:09:39 PM
2027-01-15
$105.00
7/3/2026, 11:09:39 PM
2027-02-19
$130.00
7/3/2026, 11:09:39 PM
Selected expiration: 2026-07-17 at max pain $145.00.
CPA pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
2199000
2199000
95
0
1764000
1764000
105
0
1331000
1331000
110
0
1129500
1129500
115
0
946000
946000
120
1500
769500
771000
125
3000
612000
615000
130
5000
462000
467000
135
25000
317500
342500
140
62000
229000
291000
145
121000
150500
271500
150
237500
80000
317500
155
374000
13500
387500
160
560000
0
560000
165
769000
0
769000
170
1008000
0
1008000
175
1268000
0
1268000
180
1531000
0
1531000
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.