This page reflects ERO 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 — ERO
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $25.00 (1.21 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.88
±11.0%
Days to Expiry
15
Calendar days
Total Call OI
15,747
Nearest expiry
Total Put OI
3,366
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$26.21
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
$25.00
5/15/2026, 11:11:45 PM
2026-06-18
$30.00
6/18/2026, 11:11:43 PM
2026-07-17NextUpdated
$25.00
7/3/2026, 11:12:46 PM
2026-08-21
$30.00
7/3/2026, 11:12:46 PM
2026-10-16
$30.00
7/3/2026, 11:12:46 PM
2026-11-20
$25.00
7/3/2026, 11:12:46 PM
2027-01-15
$22.50
7/3/2026, 11:12:46 PM
Selected expiration: 2026-07-17 at max pain $25.00.
ERO pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
4721000
4721000
15
3250
3899250
3902500
17.5
9250
3084250
3093500
20
25750
2276500
2302250
22.5
63500
1502250
1565750
25
131750
858000
989750
30
1072750
54000
1126750
35
4269750
10500
4280250
40
10994250
5000
10999250
45
18552750
2500
18555250
50
26278250
0
26278250
55
34141250
0
34141250
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.