This page reflects MCRB options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Jul 6, 2026 close
Max Pain — MCRB
Data as of market close Jul 6, 2026
Nearest listed expiration 2026-07-17 shows max pain at $7.50 (0.21 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.50
Nearest expiry
Expected Move
±$1.95
±25.3%
Days to Expiry
11
Calendar days
Total Call OI
1,423
Nearest expiry
Total Put OI
93
Nearest expiry
P/C OI Ratio
0.07
Put-heavy
Spot Price
$7.71
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
$7.50
5/15/2026, 11:20:38 PM
2026-06-18
$7.50
6/18/2026, 11:24:44 PM
2026-07-17NextUpdated
$7.50
7/6/2026, 11:17:10 PM
2026-08-21
$7.50
7/6/2026, 11:17:10 PM
2026-10-16
$15.00
7/6/2026, 11:17:10 PM
2027-01-15
$15.00
7/6/2026, 11:17:10 PM
Selected expiration: 2026-07-17 at max pain $7.50.
MCRB pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
49750
49750
7.5
250
29250
29500
10
66000
17000
83000
12.5
221000
9000
230000
15
395000
4000
399000
17.5
584250
1500
585750
20
773500
1000
774500
22.5
962750
750
963500
25
1152000
500
1152500
30
1796500
0
1796500
35
2499000
0
2499000
40
3201500
0
3201500
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.