This page reflects NBR 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 — NBR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $70.00 (7.86 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$7.43
±9.5%
Days to Expiry
15
Calendar days
Total Call OI
575
Nearest expiry
Total Put OI
188
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$77.86
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
$80.00
5/15/2026, 11:24:12 PM
2026-06-18
$95.00
6/18/2026, 11:23:35 PM
2026-07-17NextUpdated
$70.00
7/3/2026, 11:22:11 PM
2026-10-16
$80.00
7/3/2026, 11:22:11 PM
2027-01-15
$60.00
7/3/2026, 11:22:11 PM
Selected expiration: 2026-07-17 at max pain $70.00.
NBR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
700500
700500
30
0
622000
622000
35
0
544500
544500
40
0
467500
467500
45
0
396000
396000
50
5500
324500
330000
55
12500
258000
270500
60
27000
200000
227000
65
51500
147000
198500
70
86000
111000
197000
75
167500
78500
246000
80
259000
54500
313500
85
362000
31500
393500
90
473000
11500
484500
95
627000
7500
634500
100
794500
4500
799000
105
1011000
1500
1012500
110
1248000
1000
1249000
115
1490500
500
1491000
120
1762000
0
1762000
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.