This page reflects IPGP 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 — IPGP
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $115.00 (9.73 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$12.35
±11.7%
Days to Expiry
15
Calendar days
Total Call OI
622
Nearest expiry
Total Put OI
296
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$105.27
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
$90.00
5/15/2026, 11:18:24 PM
2026-06-18
$100.00
6/18/2026, 11:17:20 PM
2026-07-17NextUpdated
$115.00
7/3/2026, 11:16:07 PM
2026-08-21
$100.00
7/3/2026, 11:16:07 PM
2026-10-16
$105.00
7/3/2026, 11:16:07 PM
2026-11-20
$125.00
7/3/2026, 11:16:07 PM
2027-01-15
$90.00
7/3/2026, 11:16:07 PM
Selected expiration: 2026-07-17 at max pain $115.00.
IPGP pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
1698000
1698000
45
1500
1550000
1551500
50
3000
1402500
1405500
55
4500
1256000
1260500
60
6000
1110000
1116000
65
8000
973000
981000
70
10500
843000
853500
75
16000
720000
736000
80
21500
606500
628000
85
29000
508000
537000
90
36500
417000
453500
95
48500
329000
377500
100
65500
244000
309500
105
86500
170000
256500
110
119500
99000
218500
115
168500
30500
199000
120
228500
15500
244000
125
304500
11500
316000
130
417500
8500
426000
135
544000
6000
550000
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.