This page reflects MLI 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 — MLI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-12-18 shows max pain at $100.00 (43.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$14.45
±25.6%
Days to Expiry
169
Calendar days
Total Call OI
482
Nearest expiry
Total Put OI
87
Nearest expiry
P/C OI Ratio
0.18
Put-heavy
Spot Price
$56.50
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-12-18
Expiration
Max Pain Strike
Last Updated
2026-05-15
$120.00
5/15/2026, 11:27:38 PM
2026-06-18
$125.00
6/18/2026, 11:21:03 PM
2026-07-17NextUpdated
$130.00
7/3/2026, 11:19:52 PM
2026-08-21
$120.00
7/3/2026, 11:19:52 PM
2026-09-18
$100.00
7/3/2026, 11:19:52 PM
2026-12-18
$100.00
7/3/2026, 11:19:52 PM
Selected expiration: 2026-12-18 at max pain $100.00.
MLI pain by strike for 2026-12-18 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
461500
461500
75
0
420000
420000
90
90000
295500
385500
95
130000
254000
384000
100
170000
212500
382500
105
215000
172500
387500
110
260000
138000
398000
115
305000
114500
419500
120
350000
95000
445000
125
395500
77500
473000
130
442500
61500
504000
135
512500
49000
561500
140
593000
38000
631000
145
707000
28000
735000
150
824500
18000
842500
155
957000
9000
966000
160
1174500
0
1174500
165
1396000
0
1396000
170
1622500
0
1622500
175
1856000
0
1856000
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.