This page reflects CVX 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 — CVX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $167.50 (1.70 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$167.50
Nearest expiry
Expected Move
±$5.00
±3.0%
Days to Expiry
8
Calendar days
Total Call OI
15,272
Nearest expiry
Total Put OI
3,562
Nearest expiry
P/C OI Ratio
0.23
Put-heavy
Spot Price
$169.20
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
$172.50
6/26/2026, 11:09:44 PM
2026-07-02
$167.50
7/2/2026, 11:11:17 PM
2026-07-10NextUpdated
$167.50
7/3/2026, 11:09:03 PM
2026-07-17
$175.00
7/3/2026, 11:09:03 PM
2026-07-24
$175.00
7/3/2026, 11:09:03 PM
2026-07-31
$175.00
7/3/2026, 11:09:03 PM
2026-08-07
$170.00
7/3/2026, 11:09:03 PM
2026-08-21
$175.00
7/3/2026, 11:09:03 PM
2026-09-18
$180.00
7/3/2026, 11:09:03 PM
2026-12-18
$170.00
7/3/2026, 11:09:03 PM
2027-01-15
$180.00
7/3/2026, 11:09:03 PM
2027-03-19
$185.00
7/3/2026, 11:09:03 PM
2027-06-17
$180.00
7/3/2026, 11:09:03 PM
Selected expiration: 2026-07-10 at max pain $167.50.
CVX pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
19821750
19821750
120
0
16260750
16260750
130
0
12700750
12700750
140
0
9143750
9143750
145
5500
7365250
7370750
150
22000
5599750
5621750
155
224000
3894250
4118250
157.5
364000
3109250
3473250
160
504000
2333750
2837750
162.5
662250
1629750
2292000
165
823500
992000
1815500
167.5
1117250
517500
1634750
170
1547750
256250
1804000
172.5
2163750
122750
2286500
175
3529750
6250
3536000
177.5
5099250
1000
5100250
180
7270500
500
7271000
182.5
9597750
250
9598000
185
11936750
0
11936750
187.5
14490250
0
14490250
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.