This page reflects ESTC 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 — ESTC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $60.00 (1.96 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$6.30
±10.8%
Days to Expiry
15
Calendar days
Total Call OI
14,472
Nearest expiry
Total Put OI
3,105
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$58.04
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
$50.00
5/15/2026, 11:14:17 PM
2026-06-18
$55.00
6/18/2026, 11:15:53 PM
2026-07-17NextUpdated
$60.00
7/3/2026, 11:10:36 PM
2026-08-21
$55.00
7/3/2026, 11:10:36 PM
2026-11-20
$50.00
7/3/2026, 11:10:36 PM
2026-12-18
$50.00
7/3/2026, 11:10:36 PM
2027-01-15
$60.00
7/3/2026, 11:10:36 PM
2027-06-17
$50.00
7/3/2026, 11:10:36 PM
Selected expiration: 2026-07-17 at max pain $60.00.
ESTC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
8690000
8690000
30
1500
7137500
7139000
40
7500
4032500
4040000
45
15500
2507500
2523000
50
25000
1085000
1110000
55
47500
508000
555500
60
242000
42000
284000
65
716000
3500
719500
70
2214500
1000
2215500
75
6641500
0
6641500
80
12492000
0
12492000
85
19206500
0
19206500
90
26404000
0
26404000
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.