This page reflects MGNI 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 — MGNI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $15.00 (5.38 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$2.05
±10.1%
Days to Expiry
15
Calendar days
Total Call OI
13,398
Nearest expiry
Total Put OI
4,096
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$20.38
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
$13.00
5/15/2026, 11:23:13 PM
2026-06-18
$14.00
6/18/2026, 11:22:54 PM
2026-07-17NextUpdated
$15.00
7/3/2026, 11:19:00 PM
2026-08-21
$18.00
7/3/2026, 11:19:00 PM
2026-09-18
$18.00
7/3/2026, 11:19:00 PM
2026-12-18
$16.00
7/3/2026, 11:19:00 PM
2027-01-15
$15.00
7/3/2026, 11:19:00 PM
2027-02-19
$12.00
7/3/2026, 11:19:00 PM
2027-03-19
$15.00
7/3/2026, 11:19:00 PM
2027-04-16
$15.00
7/3/2026, 11:19:00 PM
2027-05-21
$15.00
7/3/2026, 11:19:00 PM
2027-06-17
$15.00
7/3/2026, 11:19:00 PM
Selected expiration: 2026-07-17 at max pain $15.00.
MGNI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
5520100
5520100
2
600
5110900
5111500
3
1600
4701800
4703400
4
2700
4292800
4295500
5
4200
3884500
3888700
6
5900
3476200
3482100
7
7900
3067900
3075800
8
10500
2660000
2670500
9
13100
2267700
2280800
10
15800
1877500
1893300
11
19300
1488900
1508200
12
22800
1105100
1127900
13
28200
763600
791800
14
41500
478400
519900
15
81800
238900
320700
16
215100
158400
373500
17
524200
81000
605200
18
960000
17000
977000
19
1719600
5300
1724900
20
2699400
2400
2701800
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.