This page reflects FORM 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 — FORM
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $130.00 (6.41 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$20.60
±16.7%
Days to Expiry
15
Calendar days
Total Call OI
9,506
Nearest expiry
Total Put OI
4,976
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$123.59
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
$135.00
5/15/2026, 11:16:57 PM
2026-06-18
$125.00
6/18/2026, 11:13:30 PM
2026-07-17NextUpdated
$130.00
7/3/2026, 11:12:42 PM
2026-08-21
$130.00
7/3/2026, 11:12:42 PM
2026-10-16
$110.00
7/3/2026, 11:12:42 PM
2027-01-15
$100.00
7/3/2026, 11:12:42 PM
Selected expiration: 2026-07-17 at max pain $130.00.
FORM pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
44934000
44934000
30
1000
42448000
42449000
35
8000
39977500
39985500
40
16000
37507500
37523500
45
27500
35045000
35072500
50
45000
32589500
32634500
55
141000
30139000
30280000
60
239000
27691500
27930500
65
360500
25245500
25606000
70
491000
22809000
23300000
75
724000
20381500
21105500
80
973500
18001500
18975000
85
1232000
15642500
16874500
90
1562000
13410000
14972000
95
1923000
11513000
13436000
100
2305000
9670500
11975500
105
2861500
8016000
10877500
110
3422500
6411000
9833500
115
4006000
4934500
8940500
120
4601500
3583500
8185000
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.