This page reflects IVR 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 — IVR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $8.00 (0.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.00
Nearest expiry
Expected Move
±$0.33
±4.1%
Days to Expiry
15
Calendar days
Total Call OI
7,970
Nearest expiry
Total Put OI
1,155
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$7.85
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
$8.00
5/15/2026, 11:21:33 PM
2026-06-18
$8.00
6/18/2026, 11:19:26 PM
2026-07-17NextUpdated
$8.00
7/3/2026, 11:16:31 PM
2026-08-21
$8.00
7/3/2026, 11:16:31 PM
2026-10-16
$8.00
7/3/2026, 11:16:31 PM
2026-11-20
$7.00
7/3/2026, 11:16:31 PM
2027-01-15
$8.00
7/3/2026, 11:16:31 PM
Selected expiration: 2026-07-17 at max pain $8.00.
IVR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
802000
802000
2
0
687300
687300
3
0
573100
573100
4
0
459600
459600
5
200
346400
346600
6
400
233300
233700
7
600
120200
120800
8
5500
28700
34200
9
210900
11200
222100
10
923200
6700
929900
11
1707100
3100
1710200
12
2491000
0
2491000
13
3287000
0
3287000
14
4084000
0
4084000
15
4881000
0
4881000
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.