This page reflects CXW 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 — CXW
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $21.00 (10.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$21.00
Nearest expiry
Expected Move
±$2.67
±8.6%
Days to Expiry
15
Calendar days
Total Call OI
83,609
Nearest expiry
Total Put OI
2,357
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$31.03
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
$18.00
5/15/2026, 11:11:28 PM
2026-06-18
$17.00
6/18/2026, 11:13:31 PM
2026-07-17NextUpdated
$21.00
7/3/2026, 11:09:48 PM
2026-08-21
$30.00
7/3/2026, 11:09:48 PM
2026-09-18
$20.00
7/3/2026, 11:09:48 PM
2026-11-20
$21.00
7/3/2026, 11:09:48 PM
2026-12-18
$25.00
7/3/2026, 11:09:48 PM
2027-01-15
$17.00
7/3/2026, 11:09:48 PM
Selected expiration: 2026-07-17 at max pain $21.00.
CXW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
3650500
3650500
13
0
3414800
3414800
14
0
3179300
3179300
15
100
2943800
2943900
16
300
2708300
2708600
18
700
2237500
2238200
19
900
2002300
2003200
20
1100
1767700
1768800
21
2300
1577100
1579400
22
456300
1387500
1843800
23
922400
1198100
2120500
24
1436800
1008700
2445500
25
2999300
824800
3824100
26
4996600
646800
5643400
27
7046900
469000
7515900
28
9142900
293000
9435900
29
11858300
151300
12009600
30
15327900
69700
15397600
31
20197600
20900
20218500
32
25257300
10400
25267700
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.