This page reflects IQV 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 — IQV
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $175.00 (32.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$5.30
±2.6%
Days to Expiry
15
Calendar days
Total Call OI
2,794
Nearest expiry
Total Put OI
1,090
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$207.04
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
$170.00
5/15/2026, 11:22:13 PM
2026-06-18
$180.00
6/18/2026, 11:16:54 PM
2026-07-17NextUpdated
$175.00
7/3/2026, 11:18:50 PM
2026-08-21
$180.00
7/3/2026, 11:18:50 PM
2026-11-20
$175.00
7/3/2026, 11:18:50 PM
2027-01-15
$185.00
7/3/2026, 11:18:50 PM
Selected expiration: 2026-07-17 at max pain $175.00.
IQV pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
4995500
4995500
125
0
4460500
4460500
130
500
3925500
3926000
135
3500
3390500
3394000
140
6500
2858500
2865000
145
9500
2332500
2342000
150
12500
1818500
1831000
155
16000
1377500
1393500
160
23000
969500
992500
165
35500
584500
620000
170
56500
324500
381000
175
90000
193000
283000
180
223500
99000
322500
185
810500
31000
841500
190
1426000
13000
1439000
195
2117000
2000
2119000
200
2987500
0
2987500
210
4949500
0
4949500
220
7214500
0
7214500
230
9998500
0
9998500
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.