This page reflects ES 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 — ES
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $70.00 (4.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$2.05
±2.8%
Days to Expiry
15
Calendar days
Total Call OI
3,278
Nearest expiry
Total Put OI
1,105
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$74.44
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
$70.00
5/15/2026, 11:12:55 PM
2026-06-18
$70.00
6/18/2026, 11:13:51 PM
2026-07-17NextUpdated
$70.00
7/3/2026, 11:11:50 PM
2026-08-21
$70.00
7/3/2026, 11:11:50 PM
2026-10-16
$65.00
7/3/2026, 11:11:50 PM
2027-01-15
$65.00
7/3/2026, 11:11:50 PM
Selected expiration: 2026-07-17 at max pain $70.00.
ES pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
2610500
2610500
45
1000
2063000
2064000
50
2000
1539500
1541500
55
3000
1042500
1045500
60
4000
611500
615500
65
26500
263500
290000
70
100500
13000
113500
75
1088000
2500
1090500
80
2574000
0
2574000
85
4167500
0
4167500
90
5801500
0
5801500
100
9079500
0
9079500
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.