This page reflects HL 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 — HL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $16.00 (0.33 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$1.30
±8.0%
Days to Expiry
8
Calendar days
Total Call OI
6,394
Nearest expiry
Total Put OI
3,129
Nearest expiry
P/C OI Ratio
0.49
Put-heavy
Spot Price
$16.33
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$15.50
6/26/2026, 11:15:03 PM
2026-07-02
$15.50
7/2/2026, 11:17:43 PM
2026-07-10NextUpdated
$16.00
7/3/2026, 11:16:39 PM
2026-07-17
$16.00
7/3/2026, 11:16:39 PM
2026-07-24
$16.50
7/3/2026, 11:16:39 PM
2026-07-31
$15.50
7/3/2026, 11:16:39 PM
2026-08-07
$17.00
7/3/2026, 11:16:39 PM
2026-08-21
$15.00
7/3/2026, 11:16:39 PM
2026-09-18
$17.00
7/3/2026, 11:16:39 PM
2026-12-18
$16.00
7/3/2026, 11:16:39 PM
2027-01-15
$12.00
7/3/2026, 11:16:39 PM
Selected expiration: 2026-07-10 at max pain $16.00.
HL pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
3597200
3597200
5
400
3284300
3284700
6
1100
2971400
2972500
7
2300
2658500
2660800
8
3900
2345600
2349500
9
5600
2032700
2038300
10
7400
1719800
1727200
11
10400
1407000
1417400
12
18500
1102600
1121100
12.5
24700
957750
982450
13
30900
815000
845900
13.5
37300
674750
712050
14
46350
535700
582050
14.5
69700
400900
470600
15
95050
289000
384050
15.5
133800
202900
336700
16
183150
133350
316500
16.5
315950
79400
395350
17
490150
43900
534050
17.5
689600
14800
704400
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.