This page reflects MRAM 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 — MRAM
Data as of market close Jul 6, 2026
Nearest listed expiration 2026-07-17 shows max pain at $25.00 (5.38 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$3.47
±17.7%
Days to Expiry
11
Calendar days
Total Call OI
12,605
Nearest expiry
Total Put OI
7,407
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$19.62
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
$30.00
5/15/2026, 11:24:40 PM
2026-06-18
$22.50
6/18/2026, 11:22:52 PM
2026-07-17NextUpdated
$25.00
7/6/2026, 11:20:33 PM
2026-08-21
$22.50
7/6/2026, 11:20:33 PM
2026-09-18
$20.00
7/6/2026, 11:20:33 PM
2026-12-18
$20.00
7/6/2026, 11:20:33 PM
Selected expiration: 2026-07-17 at max pain $25.00.
MRAM pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
5928250
5928250
15
1250
4158500
4159750
17.5
12250
2485000
2497250
20
30750
1396750
1427500
22.5
102000
641250
743250
25
228000
235500
463500
30
1012000
31500
1043500
35
2896000
12000
2908000
40
5205500
500
5206000
45
8907500
0
8907500
50
12918500
0
12918500
55
18518500
0
18518500
60
24187500
0
24187500
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.