This page reflects KEYS 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 — KEYS
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $360.00 (46.14 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$360.00
Nearest expiry
Expected Move
±$25.50
±8.1%
Days to Expiry
15
Calendar days
Total Call OI
3,033
Nearest expiry
Total Put OI
3,939
Nearest expiry
P/C OI Ratio
1.30
Put-heavy
Spot Price
$313.86
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
$340.00
5/15/2026, 11:22:28 PM
2026-06-18
$330.00
6/18/2026, 11:19:48 PM
2026-07-17NextUpdated
$360.00
7/3/2026, 11:17:43 PM
2026-08-21
$290.00
7/3/2026, 11:17:43 PM
2026-09-18
$310.00
7/3/2026, 11:17:43 PM
2026-11-20
$210.00
7/3/2026, 11:17:43 PM
2026-12-18
$310.00
7/3/2026, 11:17:43 PM
2027-02-19
$310.00
7/3/2026, 11:17:43 PM
Selected expiration: 2026-07-17 at max pain $360.00.
KEYS pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
160
0
63703500
63703500
165
0
61734500
61734500
170
500
59766500
59767000
175
1000
57799000
57800000
180
1500
55832000
55833500
200
9500
47966000
47975500
210
14500
44034000
44048500
220
21500
40102000
40123500
230
28500
36171000
36199500
240
36500
32241000
32277500
250
46500
28325000
28371500
260
56500
24430000
24486500
270
72500
20564000
20636500
280
95500
16734000
16829500
290
118500
13805000
13923500
300
141500
11057000
11198500
310
171500
8391000
8562500
320
208500
5898000
6106500
330
248500
4015000
4263500
340
308500
2261000
2569500
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.