This page reflects GIS 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 — GIS
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $35.00 (2.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$1.70
±4.5%
Days to Expiry
15
Calendar days
Total Call OI
37,279
Nearest expiry
Total Put OI
37,034
Nearest expiry
P/C OI Ratio
0.99
Put-heavy
Spot Price
$37.57
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
$35.00
5/15/2026, 11:16:57 PM
2026-06-18
$35.00
6/18/2026, 11:15:22 PM
2026-07-17NextUpdated
$35.00
7/3/2026, 11:15:19 PM
2026-08-21
$35.00
7/3/2026, 11:15:19 PM
2026-09-18
$35.00
7/3/2026, 11:15:19 PM
2026-10-16
$35.00
7/3/2026, 11:15:19 PM
2026-12-18
$37.50
7/3/2026, 11:15:19 PM
2027-01-15
$45.00
7/3/2026, 11:15:19 PM
2027-03-19
$35.00
7/3/2026, 11:15:19 PM
2027-06-17
$37.50
7/3/2026, 11:15:19 PM
Selected expiration: 2026-07-17 at max pain $35.00.
GIS pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
32285750
32285750
27.5
13500
23051750
23065250
30
29750
14095000
14124750
32.5
179500
6386250
6565750
35
651750
2856250
3508000
37.5
2894500
1658750
4553250
40
9546250
877250
10423500
42.5
17458250
407250
17865500
45
25904250
136250
26040500
47.5
34904500
47750
34952250
50
43952500
15000
43967500
52.5
53110750
10500
53121250
55
62360500
6250
62366750
57.5
71648000
4500
71652500
60
80953250
3000
80956250
65
99587750
0
99587750
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.