This page reflects MRK 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 — MRK
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $120.00 (9.56 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$4.03
±3.1%
Days to Expiry
8
Calendar days
Total Call OI
4,965
Nearest expiry
Total Put OI
2,648
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$129.56
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$116.00
6/26/2026, 11:22:57 PM
2026-07-02
$122.00
7/2/2026, 11:22:08 PM
2026-07-10NextUpdated
$120.00
7/3/2026, 11:18:24 PM
2026-07-17
$116.00
7/3/2026, 11:18:24 PM
2026-07-24
$100.00
7/3/2026, 11:18:24 PM
2026-07-31
$113.00
7/3/2026, 11:18:24 PM
2026-08-07
$122.00
7/3/2026, 11:18:24 PM
2026-08-21
$115.00
7/3/2026, 11:18:24 PM
2026-09-18
$100.00
7/3/2026, 11:18:24 PM
2026-10-16
$115.00
7/3/2026, 11:18:24 PM
2026-12-18
$105.00
7/3/2026, 11:18:24 PM
2027-01-15
$100.00
7/3/2026, 11:18:24 PM
2027-03-19
$115.00
7/3/2026, 11:18:24 PM
2027-06-17
$80.00
7/3/2026, 11:18:24 PM
Selected expiration: 2026-07-10 at max pain $120.00.
MRK pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
5579200
5579200
100
0
4255700
4255700
101
0
3992600
3992600
102
0
3729800
3729800
103
0
3467600
3467600
104
0
3207700
3207700
105
0
2948000
2948000
106
0
2688700
2688700
107
100
2459500
2459600
108
200
2237800
2238000
109
300
2027400
2027700
110
400
1820000
1820400
111
600
1616700
1617300
112
1700
1436900
1438600
113
3000
1261500
1264500
114
8200
1089900
1098100
115
17800
921700
939500
116
33600
758200
791800
117
71400
627800
699200
118
114200
506700
620900
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.