This page reflects MTB 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 — MTB
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $210.00 (28.88 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$5.40
±2.3%
Days to Expiry
15
Calendar days
Total Call OI
1,693
Nearest expiry
Total Put OI
606
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$238.88
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
$210.00
5/15/2026, 11:29:19 PM
2026-06-18
$210.00
6/18/2026, 11:24:24 PM
2026-07-17NextUpdated
$210.00
7/3/2026, 11:22:42 PM
2026-08-21
$220.00
7/3/2026, 11:22:42 PM
2026-09-18
$210.00
7/3/2026, 11:22:42 PM
2026-10-16
$220.00
7/3/2026, 11:22:42 PM
2026-12-18
$210.00
7/3/2026, 11:22:42 PM
2027-01-15
$210.00
7/3/2026, 11:22:42 PM
2027-02-19
$180.00
7/3/2026, 11:22:42 PM
2027-03-19
$230.00
7/3/2026, 11:22:42 PM
Selected expiration: 2026-07-17 at max pain $210.00.
MTB pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
5285000
5285000
130
0
4075000
4075000
135
0
3775000
3775000
165
0
1975000
1975000
170
2000
1680000
1682000
175
4000
1389000
1393000
180
8000
1143000
1151000
185
14000
897500
911500
190
20000
652000
672000
195
28000
434000
462000
200
44500
219000
263500
210
77500
66000
143500
220
236500
2000
238500
230
547500
0
547500
240
1164500
0
1164500
250
2001500
0
2001500
260
3625500
0
3625500
270
5318500
0
5318500
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.