This page reflects ESI 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 — ESI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $46.00 (2.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$46.00
Nearest expiry
Expected Move
±$4.62
±10.6%
Days to Expiry
15
Calendar days
Total Call OI
2,802
Nearest expiry
Total Put OI
3,636
Nearest expiry
P/C OI Ratio
1.30
Put-heavy
Spot Price
$43.64
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
$42.00
5/15/2026, 11:13:52 PM
2026-06-18
$42.00
6/18/2026, 11:13:11 PM
2026-07-17NextUpdated
$46.00
7/3/2026, 11:11:45 PM
2026-08-21
$25.00
7/3/2026, 11:11:45 PM
2026-11-20
$37.00
7/3/2026, 11:11:45 PM
2026-12-18
$25.00
7/3/2026, 11:11:45 PM
Selected expiration: 2026-07-17 at max pain $46.00.
ESI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
32
0
4122100
4122100
33
0
3758600
3758600
35
0
3031800
3031800
36
500
2668400
2668900
37
1100
2305100
2306200
39
2700
1578500
1581200
40
3500
1215500
1219000
41
5400
926900
932300
42
7700
638600
646300
44
12700
216800
229500
45
15300
8400
23700
46
18800
500
19300
47
25000
300
25300
48
35300
200
35500
49
86600
100
86700
50
178200
0
178200
55
980700
0
980700
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.