This page reflects FMC 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 — FMC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $12.50 (1.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$1.68
±14.8%
Days to Expiry
15
Calendar days
Total Call OI
20,979
Nearest expiry
Total Put OI
8,147
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$11.35
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
$15.00
5/15/2026, 11:14:25 PM
2026-06-18
$12.50
6/18/2026, 11:12:48 PM
2026-07-17NextUpdated
$12.50
7/3/2026, 11:14:16 PM
2026-08-21
$12.50
7/3/2026, 11:14:16 PM
2026-10-16
$12.50
7/3/2026, 11:14:16 PM
2027-01-15
$12.50
7/3/2026, 11:14:16 PM
Selected expiration: 2026-07-17 at max pain $12.50.
FMC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
7616500
7616500
5
2500
5579750
5582250
7.5
5750
3543000
3548750
10
9000
1550750
1559750
12.5
108000
335250
443250
15
1277250
53250
1330500
17.5
4116500
2500
4119000
20
7469000
1500
7470500
22.5
11871000
750
11871750
25
16606750
0
16606750
27.5
21748000
0
21748000
30
26950000
0
26950000
32.5
32190750
0
32190750
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.