Manulife Financial CorporationClose $41.18EOD only
Max Pain
$40.00
Next expiry Jul 17, 2026
Expected Move
±$1.43
3.5% from close
Price Gap
-1.18
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.30
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects MFC 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 — MFC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $40.00 (1.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$1.43
±3.5%
Days to Expiry
15
Calendar days
Total Call OI
7,019
Nearest expiry
Total Put OI
930
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$41.18
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
$38.00
5/15/2026, 11:25:32 PM
2026-06-18
$38.00
6/18/2026, 11:22:20 PM
2026-07-17NextUpdated
$40.00
7/3/2026, 11:21:23 PM
2026-08-21
$40.00
7/3/2026, 11:21:23 PM
2026-09-18
$39.00
7/3/2026, 11:21:23 PM
2026-11-20
$35.00
7/3/2026, 11:21:23 PM
2026-12-18
$37.00
7/3/2026, 11:21:23 PM
Selected expiration: 2026-07-17 at max pain $40.00.
MFC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
1865600
1865600
24
0
1493600
1493600
25
0
1400600
1400600
27
0
1214600
1214600
28
0
1121600
1121600
30
0
935600
935600
32
400
749600
750000
35
1000
471200
472200
36
1400
379800
381200
37
2100
289300
291400
38
4000
200500
204500
39
11700
118200
129900
40
26100
72200
98300
41
131600
33000
164600
42
732000
0
732000
43
1416800
0
1416800
45
2787000
0
2787000
46
3481300
0
3481300
47
4178200
0
4178200
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.