This page reflects MBX 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 — MBX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $35.00 (22.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$4.35
±7.5%
Days to Expiry
15
Calendar days
Total Call OI
2,666
Nearest expiry
Total Put OI
2,232
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$57.80
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
$35.00
5/15/2026, 11:24:00 PM
2026-06-18
$35.00
6/18/2026, 11:22:58 PM
2026-07-17NextUpdated
$35.00
7/3/2026, 11:21:20 PM
2026-08-21
$30.00
7/3/2026, 11:21:20 PM
2026-10-16
$30.00
7/3/2026, 11:21:20 PM
2026-12-18
$7.50
7/3/2026, 11:21:20 PM
2027-01-15
$7.50
7/3/2026, 11:21:20 PM
Selected expiration: 2026-07-17 at max pain $35.00.
MBX pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
5218500
5218500
5
0
4661000
4661000
7.5
0
4103750
4103750
10
0
3546750
3546750
12.5
750
2990000
2990750
15
1750
2435500
2437250
17.5
2750
1883250
1886000
20
4750
1331000
1335750
22.5
8250
778750
787000
25
11750
234000
245750
30
48750
147000
195750
35
87750
79500
167250
40
248750
18500
267250
45
1441250
2500
1443750
50
2689250
0
2689250
55
3972250
0
3972250
60
5274250
0
5274250
65
6602250
0
6602250
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.