This page reflects IPAR 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 — IPAR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-08-21 shows max pain at $90.00 (29.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$4.55
±3.8%
Days to Expiry
50
Calendar days
Total Call OI
22
Nearest expiry
Total Put OI
45
Nearest expiry
P/C OI Ratio
2.05
Put-heavy
Spot Price
$119.39
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-05-15
$85.00
5/15/2026, 11:18:44 PM
2026-06-18
$95.00
6/18/2026, 11:19:16 PM
2026-08-21NextUpdated
$90.00
7/3/2026, 11:16:00 PM
2026-11-20
$85.00
7/3/2026, 11:16:00 PM
Selected expiration: 2026-08-21 at max pain $90.00.
IPAR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
23500
23500
65
0
18500
18500
75
0
8500
8500
80
0
5000
5000
85
500
2000
2500
90
1000
500
1500
95
2000
0
2000
100
3000
0
3000
105
5000
0
5000
110
8500
0
8500
115
15500
0
15500
120
26500
0
26500
125
37500
0
37500
135
59500
0
59500
140
70500
0
70500
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.