This page reflects CW 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 — CW
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $790.00 (29.77 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$790.00
Nearest expiry
Expected Move
±$46.40
±6.1%
Days to Expiry
15
Calendar days
Total Call OI
65
Nearest expiry
Total Put OI
538
Nearest expiry
P/C OI Ratio
8.28
Put-heavy
Spot Price
$760.23
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
$700.00
5/15/2026, 11:11:22 PM
2026-06-18
$700.00
6/18/2026, 11:10:51 PM
2026-07-17NextUpdated
$790.00
7/3/2026, 11:09:17 PM
2026-08-21
$750.00
7/3/2026, 11:09:17 PM
2026-09-18
$640.00
7/3/2026, 11:09:17 PM
2026-11-20
$670.00
7/3/2026, 11:09:17 PM
2026-12-18
$650.00
7/3/2026, 11:09:17 PM
Selected expiration: 2026-07-17 at max pain $790.00.
CW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
560
0
9025000
9025000
570
0
8489000
8489000
600
0
6887000
6887000
630
0
5285000
5285000
650
4000
4221000
4225000
660
6000
3709000
3715000
670
8000
3199000
3207000
680
10000
2694000
2704000
690
12000
2190000
2202000
700
14000
1691000
1705000
710
16000
1209000
1225000
720
28000
733000
761000
730
43000
259000
302000
740
60000
195000
255000
750
78000
142000
220000
760
97000
99000
196000
770
120000
64000
184000
780
148000
32000
180000
790
176000
0
176000
800
207000
0
207000
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.