Nearest listed expiration 2026-07-10 shows max pain at $50.00 (11.18 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$2.79
±7.2%
Days to Expiry
8
Calendar days
Total Call OI
42,140
Nearest expiry
Total Put OI
87,752
Nearest expiry
P/C OI Ratio
2.08
Put-heavy
Spot Price
$38.82
Published close
Consensus
7.5/10
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
$53.00
6/26/2026, 11:17:42 PM
2026-07-02
$45.50
7/2/2026, 11:18:43 PM
2026-07-10NextUpdated
$50.00
7/3/2026, 11:14:25 PM
2026-07-17
$50.00
7/3/2026, 11:14:25 PM
2026-07-24
$53.00
7/3/2026, 11:14:25 PM
2026-07-31
$48.00
7/3/2026, 11:14:25 PM
2026-08-07
$50.00
7/3/2026, 11:14:25 PM
2026-08-21
$50.00
7/3/2026, 11:14:25 PM
2026-09-18
$55.00
7/3/2026, 11:14:25 PM
2026-10-16
$50.00
7/3/2026, 11:14:25 PM
2026-11-20
$60.00
7/3/2026, 11:14:25 PM
2026-12-18
$45.00
7/3/2026, 11:14:25 PM
2027-01-15
$30.00
7/3/2026, 11:14:25 PM
2027-02-19
$45.00
7/3/2026, 11:14:25 PM
2027-06-17
$45.00
7/3/2026, 11:14:25 PM
Selected expiration: 2026-07-10 at max pain $50.00.
IREN pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
172380250
172380250
25
24000
130636750
130660750
30
55000
91982750
92037750
34.5
122500
59237600
59360100
35
130000
55727050
55857050
35.5
137750
52398800
52536550
36
145500
49098650
49244150
36.5
154900
45889500
46044400
37
164300
42683200
42847500
37.5
173700
39562050
39735750
38
183100
36459050
36642150
38.5
192700
33453300
33646000
39
203500
30906250
31109750
39.5
214300
28572500
28786800
40
225100
26322000
26547100
40.5
248100
24591200
24839300
41
283300
22954200
23237500
41.5
320800
21391400
21712200
42
358300
20025700
20384000
42.5
405500
18747150
19152650
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.