This page reflects CTEV 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 — CTEV
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $22.50 (10.14 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$6.72
±20.6%
Days to Expiry
15
Calendar days
Total Call OI
374
Nearest expiry
Total Put OI
868
Nearest expiry
P/C OI Ratio
2.32
Put-heavy
Spot Price
$32.64
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
$17.50
5/15/2026, 11:10:41 PM
2026-06-18
$22.50
6/18/2026, 11:10:01 PM
2026-07-17NextUpdated
$22.50
7/3/2026, 11:10:35 PM
2026-08-21
$30.00
7/3/2026, 11:10:35 PM
2026-10-16
$20.00
7/3/2026, 11:10:35 PM
2026-12-18
$30.00
7/3/2026, 11:10:35 PM
Selected expiration: 2026-07-17 at max pain $22.50.
CTEV pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
819000
819000
5
500
602000
602500
7.5
1000
468500
469500
10
1500
340000
341500
12.5
2000
262500
264500
15
2500
189000
191500
17.5
3250
154250
157500
20
4750
126000
130750
22.5
15750
105000
120750
25
41000
92000
133000
30
101500
79500
181000
35
221000
68500
289500
40
359000
58000
417000
45
500000
47500
547500
50
643500
38000
681500
55
787000
28500
815500
60
930500
19000
949500
65
1074000
9500
1083500
70
1220500
0
1220500
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.