This page reflects CPS 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 — CPS
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $20.00 (6.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$2.75
±10.4%
Days to Expiry
15
Calendar days
Total Call OI
1,356
Nearest expiry
Total Put OI
261
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$26.39
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
$30.00
5/15/2026, 11:10:16 PM
2026-06-18
$30.00
6/18/2026, 11:08:46 PM
2026-07-17NextUpdated
$20.00
7/3/2026, 11:07:54 PM
2026-08-21
$30.00
7/3/2026, 11:07:54 PM
2026-10-16
$25.00
7/3/2026, 11:07:54 PM
2026-12-18
$30.00
7/3/2026, 11:07:54 PM
2027-01-15
$30.00
7/3/2026, 11:07:54 PM
Selected expiration: 2026-07-17 at max pain $20.00.
CPS pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
224000
224000
17.5
0
176000
176000
20
0
128000
128000
22.5
38750
91250
130000
25
77500
55500
133000
30
158000
25500
183500
35
427500
9500
437000
40
846000
0
846000
45
1506500
0
1506500
50
2180000
0
2180000
55
2858000
0
2858000
60
3536000
0
3536000
65
4214000
0
4214000
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.