This page reflects HSBC 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 — HSBC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $93.00 (3.78 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$93.00
Nearest expiry
Expected Move
±$1.07
±1.1%
Days to Expiry
8
Calendar days
Total Call OI
563
Nearest expiry
Total Put OI
336
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$96.78
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
$94.00
6/26/2026, 11:17:07 PM
2026-07-02
$94.00
7/2/2026, 11:16:39 PM
2026-07-10NextUpdated
$93.00
7/3/2026, 11:14:29 PM
2026-07-17
$95.00
7/3/2026, 11:14:29 PM
2026-07-24
$92.00
7/3/2026, 11:14:29 PM
2026-07-31
$95.00
7/3/2026, 11:14:29 PM
2026-08-21
$95.00
7/3/2026, 11:14:29 PM
2026-09-18
$90.00
7/3/2026, 11:14:29 PM
2026-12-18
$85.00
7/3/2026, 11:14:29 PM
2027-01-15
$80.00
7/3/2026, 11:14:29 PM
2027-03-19
$85.00
7/3/2026, 11:14:29 PM
2027-06-17
$100.00
7/3/2026, 11:14:29 PM
Selected expiration: 2026-07-10 at max pain $93.00.
HSBC pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
979200
979200
60
0
812700
812700
65
0
647700
647700
70
0
484200
484200
75
0
326700
326700
76
4700
306800
311500
77
14100
286900
301000
78
23600
267000
290600
80
42800
227200
270000
81
52400
207800
260200
82
62000
188600
250600
83
71700
169500
241200
84
81600
150500
232100
85
91600
131500
223100
86
101600
113800
215400
87
111600
96200
207800
88
121600
78700
200300
89
132000
61300
193300
90
142400
47900
190300
91
152800
35400
188200
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.