This page reflects FE 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 — FE
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $46.00 (2.53 below 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
±$1.93
±4.0%
Days to Expiry
15
Calendar days
Total Call OI
8,544
Nearest expiry
Total Put OI
1,614
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$48.53
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
$45.00
5/15/2026, 11:15:15 PM
2026-06-18
$45.00
6/18/2026, 11:15:13 PM
2026-07-17NextUpdated
$46.00
7/3/2026, 11:11:24 PM
2026-08-21
$46.00
7/3/2026, 11:11:24 PM
2026-09-18
$45.00
7/3/2026, 11:11:24 PM
2026-10-16
$45.00
7/3/2026, 11:11:24 PM
2026-12-18
$50.00
7/3/2026, 11:11:24 PM
2027-01-15
$47.00
7/3/2026, 11:11:24 PM
2027-03-19
$40.00
7/3/2026, 11:11:24 PM
2027-06-17
$55.00
7/3/2026, 11:11:24 PM
Selected expiration: 2026-07-17 at max pain $46.00.
FE pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
3329600
3329600
30
0
2523600
2523600
35
5000
1718100
1723100
39
9000
1077700
1086700
40
10000
918300
928300
41
11600
761400
773000
42
13600
608400
622000
43
15600
466000
481600
44
24000
330300
354300
45
51700
216900
268600
46
94200
119600
213800
47
187900
51200
239100
48
630700
20000
650700
49
1339100
4800
1343900
50
2070700
0
2070700
55
6102200
0
6102200
60
10359700
0
10359700
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.