This page reflects M 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 — M
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $23.50 (0.25 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$23.50
Nearest expiry
Expected Move
±$1.18
±5.0%
Days to Expiry
8
Calendar days
Total Call OI
2,998
Nearest expiry
Total Put OI
1,580
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$23.25
Published close
Consensus
-
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
$23.00
6/26/2026, 11:18:07 PM
2026-07-02
$23.50
7/2/2026, 11:20:54 PM
2026-07-10NextUpdated
$23.50
7/3/2026, 11:20:11 PM
2026-07-17
$23.00
7/3/2026, 11:20:11 PM
2026-07-24
$25.00
7/3/2026, 11:20:11 PM
2026-07-31
$21.50
7/3/2026, 11:20:11 PM
2026-08-07
$23.50
7/3/2026, 11:20:11 PM
2026-08-21
$22.00
7/3/2026, 11:20:11 PM
2026-09-18
$17.00
7/3/2026, 11:20:11 PM
2026-11-20
$23.00
7/3/2026, 11:20:11 PM
2026-12-18
$22.00
7/3/2026, 11:20:11 PM
2027-01-15
$15.00
7/3/2026, 11:20:11 PM
2027-02-19
$19.00
7/3/2026, 11:20:11 PM
2027-03-19
$20.00
7/3/2026, 11:20:11 PM
2027-06-17
$20.00
7/3/2026, 11:20:11 PM
Selected expiration: 2026-07-10 at max pain $23.50.
M pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
1596600
1596600
14
900
1438700
1439600
15
2300
1280800
1283100
16
4000
1122900
1126900
17
5900
965600
971500
17.5
6900
887050
893950
18
7950
808550
816500
18.5
9000
730200
739200
19
10050
651950
662000
19.5
11100
574100
585200
20
12150
498400
510550
20.5
18200
423550
441750
21
24250
349050
373300
21.5
30500
275750
306250
22
40000
203800
243800
22.5
56650
148900
205550
23
81150
95000
176150
23.5
110100
51350
161450
24
163150
29700
192850
24.5
251800
17150
268950
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.