This page reflects DLR 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 — DLR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $185.00 (11.70 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$185.00
Nearest expiry
Expected Move
±$1.82
±1.1%
Days to Expiry
8
Calendar days
Total Call OI
611
Nearest expiry
Total Put OI
61
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$173.30
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
$190.00
6/26/2026, 11:11:00 PM
2026-07-02
$185.00
7/2/2026, 11:12:57 PM
2026-07-10NextUpdated
$185.00
7/3/2026, 11:09:26 PM
2026-07-17
$185.00
7/3/2026, 11:09:26 PM
2026-07-24
$190.00
7/3/2026, 11:09:26 PM
2026-07-31
$195.00
7/3/2026, 11:09:26 PM
2026-08-07
$180.00
7/3/2026, 11:09:26 PM
2026-08-21
$180.00
7/3/2026, 11:09:26 PM
2026-09-18
$180.00
7/3/2026, 11:09:26 PM
2026-10-16
$185.00
7/3/2026, 11:09:26 PM
2026-12-18
$175.00
7/3/2026, 11:09:26 PM
2027-01-15
$175.00
7/3/2026, 11:09:26 PM
2027-03-19
$190.00
7/3/2026, 11:09:26 PM
2027-06-17
$190.00
7/3/2026, 11:09:26 PM
Selected expiration: 2026-07-10 at max pain $185.00.
DLR pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
161000
161000
160
0
104000
104000
165
0
77500
77500
170
0
54000
54000
180
0
9000
9000
185
4000
1000
5000
187.5
6000
500
6500
190
139750
0
139750
192.5
276000
0
276000
195
412750
0
412750
200
693750
0
693750
205
979750
0
979750
210
1269250
0
1269250
220
1879250
0
1879250
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.