This page reflects CSTM 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 — CSTM
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $33.00 (3.51 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$33.00
Nearest expiry
Expected Move
±$2.58
±8.7%
Days to Expiry
15
Calendar days
Total Call OI
2,321
Nearest expiry
Total Put OI
957
Nearest expiry
P/C OI Ratio
0.41
Put-heavy
Spot Price
$29.49
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, 11:08:11 PM
2026-06-18
$32.00
6/18/2026, 11:09:25 PM
2026-07-17NextUpdated
$33.00
7/3/2026, 11:10:31 PM
2026-08-21
$30.00
7/3/2026, 11:10:31 PM
2026-11-20
$27.00
7/3/2026, 11:10:31 PM
2027-01-15
$20.00
7/3/2026, 11:10:31 PM
2027-02-19
$26.00
7/3/2026, 11:10:31 PM
Selected expiration: 2026-07-17 at max pain $33.00.
CSTM pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
24
0
709100
709100
25
0
613600
613600
26
0
520300
520300
27
100
427800
427900
28
200
336600
336800
29
400
251500
251900
30
700
172900
173600
31
3000
109100
112100
32
6000
52200
58200
33
11300
25900
37200
34
118700
11300
130000
35
253400
4500
257900
36
414800
800
415600
37
589800
600
590400
38
785400
400
785800
39
991800
200
992000
40
1211200
0
1211200
41
1440300
0
1440300
42
1671300
0
1671300
44
2134500
0
2134500
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.