This page reflects FOUR 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 — FOUR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $45.00 (6.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$5.28
±10.3%
Days to Expiry
15
Calendar days
Total Call OI
10,941
Nearest expiry
Total Put OI
8,326
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$51.35
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
$50.00
5/15/2026, 11:17:10 PM
2026-06-18
$50.00
6/18/2026, 11:17:41 PM
2026-07-17NextUpdated
$45.00
7/3/2026, 11:12:08 PM
2026-08-21
$40.00
7/3/2026, 11:12:08 PM
2026-09-18
$50.00
7/3/2026, 11:12:08 PM
2026-10-16
$45.00
7/3/2026, 11:12:08 PM
2026-12-18
$45.00
7/3/2026, 11:12:08 PM
2027-01-15
$47.50
7/3/2026, 11:12:08 PM
Selected expiration: 2026-07-17 at max pain $45.00.
FOUR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
15939500
15939500
25
2250
13859000
13861250
30
16750
9730000
9746750
35
89250
6095000
6184250
40
341250
3144500
3485750
45
1125250
1133000
2258250
50
4351750
684000
5035750
55
8455750
382500
8838250
60
13303250
122000
13425250
65
18438250
60000
18498250
70
23711250
1000
23712250
75
29109750
0
29109750
80
34562250
0
34562250
85
40025250
0
40025250
90
45490250
0
45490250
95
50960750
0
50960750
100
56431250
0
56431250
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.