This page reflects HWM 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 — HWM
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $275.00 (4.59 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$275.00
Nearest expiry
Expected Move
±$10.45
±3.9%
Days to Expiry
8
Calendar days
Total Call OI
425
Nearest expiry
Total Put OI
2,116
Nearest expiry
P/C OI Ratio
4.98
Put-heavy
Spot Price
$270.41
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
$275.00
6/26/2026, 11:16:26 PM
2026-07-02
$260.00
7/2/2026, 11:16:28 PM
2026-07-10NextUpdated
$275.00
7/3/2026, 11:15:31 PM
2026-07-17
$260.00
7/3/2026, 11:15:31 PM
2026-07-24
$250.00
7/3/2026, 11:15:31 PM
2026-07-31
$270.00
7/3/2026, 11:15:31 PM
2026-08-07
$260.00
7/3/2026, 11:15:31 PM
2026-08-21
$270.00
7/3/2026, 11:15:31 PM
2026-09-18
$240.00
7/3/2026, 11:15:31 PM
2026-10-16
$200.00
7/3/2026, 11:15:31 PM
2026-12-18
$260.00
7/3/2026, 11:15:31 PM
2027-01-15
$135.00
7/3/2026, 11:15:31 PM
2027-03-19
$230.00
7/3/2026, 11:15:31 PM
Selected expiration: 2026-07-10 at max pain $275.00.
HWM pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
220
0
431750
431750
225
0
367250
367250
230
0
308750
308750
235
0
252750
252750
240
0
201750
201750
245
0
154750
154750
250
0
113250
113250
252.5
500
96250
96750
255
1000
79500
80500
257.5
1500
66250
67750
260
2000
53250
55250
265
6000
34750
40750
267.5
8250
26250
34500
270
10500
18500
29000
275
18500
8000
26500
277.5
32750
4000
36750
280
49000
0
49000
282.5
86000
0
86000
285
124000
0
124000
287.5
170500
0
170500
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.