This page reflects MSCI 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 — MSCI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $580.00 (23.11 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$580.00
Nearest expiry
Expected Move
±$29.65
±4.9%
Days to Expiry
15
Calendar days
Total Call OI
1,492
Nearest expiry
Total Put OI
398
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$603.11
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
$580.00
5/15/2026, 11:28:51 PM
2026-06-18
$600.00
6/18/2026, 11:27:18 PM
2026-07-17NextUpdated
$580.00
7/3/2026, 11:21:43 PM
2026-08-21
$590.00
7/3/2026, 11:21:43 PM
2026-09-18
$570.00
7/3/2026, 11:21:43 PM
2026-12-18
$600.00
7/3/2026, 11:21:43 PM
Selected expiration: 2026-07-17 at max pain $580.00.
MSCI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
370
0
6698000
6698000
380
0
6301000
6301000
400
0
5509000
5509000
420
0
4719000
4719000
440
0
3931000
3931000
450
0
3547000
3547000
460
0
3164000
3164000
470
0
2783000
2783000
480
0
2414000
2414000
490
0
2054000
2054000
500
3000
1722000
1725000
510
6000
1419000
1425000
520
9000
1128000
1137000
530
13000
860000
873000
540
17000
625000
642000
550
27000
411000
438000
560
49000
234000
283000
570
80000
137000
217000
580
116000
54000
170000
590
1090000
24000
1114000
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.