This page reflects MSI 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 — MSI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $400.00 (22.66 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$400.00
Nearest expiry
Expected Move
±$17.35
±4.1%
Days to Expiry
15
Calendar days
Total Call OI
2,664
Nearest expiry
Total Put OI
893
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$422.66
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
$410.00
5/15/2026, 11:25:15 PM
2026-06-18
$400.00
6/18/2026, 11:22:22 PM
2026-07-17NextUpdated
$400.00
7/3/2026, 11:19:19 PM
2026-08-21
$400.00
7/3/2026, 11:19:19 PM
2026-10-16
$400.00
7/3/2026, 11:19:19 PM
2027-01-15
$380.00
7/3/2026, 11:19:19 PM
Selected expiration: 2026-07-17 at max pain $400.00.
MSI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
230
0
14335000
14335000
250
4000
12561000
12565000
260
6000
11675000
11681000
280
12000
9911000
9923000
290
15000
9029000
9044000
300
21000
8154000
8175000
310
28000
7282000
7310000
320
35000
6429000
6464000
330
44000
5596000
5640000
340
53000
4781000
4834000
350
62000
3985000
4047000
360
77000
3202000
3279000
370
96000
2496000
2592000
380
127000
1865000
1992000
390
179000
1274000
1453000
400
471000
803000
1274000
410
888000
428000
1316000
420
1561000
207000
1768000
430
2478000
125000
2603000
440
3513000
63000
3576000
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.