This page reflects IMAX 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 — IMAX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $38.00 (1.88 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$38.00
Nearest expiry
Expected Move
±$2.55
±6.4%
Days to Expiry
15
Calendar days
Total Call OI
2,137
Nearest expiry
Total Put OI
293
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$39.88
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, 11:19:03 PM
2026-06-18
$37.00
6/18/2026, 11:18:05 PM
2026-07-17NextUpdated
$38.00
7/3/2026, 11:15:38 PM
2026-08-21
$40.00
7/3/2026, 11:15:38 PM
2026-09-18
$42.00
7/3/2026, 11:15:38 PM
2026-12-18
$36.00
7/3/2026, 11:15:38 PM
Selected expiration: 2026-07-17 at max pain $38.00.
IMAX pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
29
0
289400
289400
30
0
261100
261100
32
200
204700
204900
33
300
178000
178300
35
500
125000
125500
36
800
98500
99300
37
1100
72200
73300
38
4600
46600
51200
39
41800
21000
62800
40
82400
7400
89800
41
127700
5800
133500
42
173400
4500
177900
43
220200
3400
223600
44
267400
2300
269700
45
378900
1200
380100
46
579200
100
579300
47
780500
0
780500
48
983400
0
983400
49
1194600
0
1194600
50
1406200
0
1406200
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.