Nearest listed expiration 2026-07-06 shows max pain at $371.00 (7.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$371.00
Nearest expiry
Expected Move
±$5.75
±1.5%
Days to Expiry
4
Calendar days
Total Call OI
8,176
Nearest expiry
Total Put OI
8,028
Nearest expiry
P/C OI Ratio
0.98
Put-heavy
Spot Price
$378.13
Published close
Consensus
4.5/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-06
Expiration
Max Pain Strike
Last Updated
2026-07-01
$369.00
7/1/2026, 11:19:20 PM
2026-07-02
$371.00
7/2/2026, 11:16:24 PM
2026-07-06NextUpdated
$371.00
7/3/2026, 11:14:47 PM
2026-07-08
$372.00
7/3/2026, 11:14:47 PM
2026-07-10
$375.00
7/3/2026, 11:14:47 PM
2026-07-17
$400.00
7/3/2026, 11:14:47 PM
2026-07-24
$380.00
7/3/2026, 11:14:47 PM
2026-07-31
$375.00
7/3/2026, 11:14:47 PM
2026-08-07
$369.00
7/3/2026, 11:14:47 PM
2026-08-21
$400.00
7/3/2026, 11:14:47 PM
2026-09-18
$400.00
7/3/2026, 11:14:47 PM
2026-09-30
$390.00
7/3/2026, 11:14:47 PM
2026-10-16
$410.00
7/3/2026, 11:14:47 PM
2026-11-20
$410.00
7/3/2026, 11:14:47 PM
2026-12-18
$400.00
7/3/2026, 11:14:47 PM
2026-12-31
$428.00
7/3/2026, 11:14:47 PM
2027-01-15
$375.00
7/3/2026, 11:14:47 PM
2027-03-19
$415.00
7/3/2026, 11:14:47 PM
2027-03-31
$416.00
7/3/2026, 11:14:47 PM
2027-06-17
$380.00
7/3/2026, 11:14:47 PM
Selected expiration: 2026-07-06 at max pain $371.00.
GLD pain by strike for 2026-07-06 expiration
Strike
Call Pain
Put Pain
Total Pain
275
0
64222500
64222500
300
0
44205000
44205000
305
0
40205000
40205000
310
0
36236000
36236000
315
0
32273500
32273500
320
500
28329500
28330000
325
5000
24409000
24414000
330
10500
20495000
20505500
335
16500
16591500
16608000
340
22500
12712000
12734500
345
29000
8891000
8920000
350
36000
5594000
5630000
355
44500
4034500
4079000
360
54500
2662000
2716500
365
79000
1457500
1536500
370
116000
414500
530500
371
163200
361800
525000
372
215400
312800
528200
373
274600
266900
541500
374
345700
222900
568600
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.