This page reflects FANG 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 — FANG
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $180.00 (7.96 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$180.00
Nearest expiry
Expected Move
±$9.40
±5.5%
Days to Expiry
15
Calendar days
Total Call OI
6,051
Nearest expiry
Total Put OI
2,418
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$172.04
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
$200.00
5/15/2026, 11:14:33 PM
2026-06-18
$175.00
6/18/2026, 11:11:10 PM
2026-07-17NextUpdated
$180.00
7/3/2026, 11:13:41 PM
2026-08-21
$180.00
7/3/2026, 11:13:41 PM
2026-09-18
$180.00
7/3/2026, 11:13:41 PM
2026-12-18
$185.00
7/3/2026, 11:13:41 PM
2027-01-15
$170.00
7/3/2026, 11:13:41 PM
2027-03-19
$190.00
7/3/2026, 11:13:41 PM
2027-06-17
$185.00
7/3/2026, 11:13:41 PM
Selected expiration: 2026-07-17 at max pain $180.00.
FANG pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
140
0
8744500
8744500
145
0
7551500
7551500
150
0
6359000
6359000
155
1000
5187500
5188500
160
2500
4072500
4075000
165
16000
3016500
3032500
170
34000
2115500
2149500
175
80500
1385000
1465500
180
149000
785500
934500
185
482000
471000
953000
190
969000
269000
1238000
195
2152000
161000
2313000
200
3493500
79000
3572500
210
6620500
0
6620500
220
10736500
0
10736500
230
15425500
0
15425500
240
20577500
0
20577500
250
26198500
0
26198500
260
31909500
0
31909500
270
37697500
0
37697500
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.