This page reflects NE 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 — NE
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $42.50 (4.51 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$42.50
Nearest expiry
Expected Move
±$1.85
±4.9%
Days to Expiry
15
Calendar days
Total Call OI
2,882
Nearest expiry
Total Put OI
121
Nearest expiry
P/C OI Ratio
0.04
Put-heavy
Spot Price
$37.99
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
$50.00
5/15/2026, 11:26:58 PM
2026-06-18
$45.00
6/18/2026, 11:23:57 PM
2026-07-17NextUpdated
$42.50
7/3/2026, 11:18:09 PM
2026-08-21
$40.00
7/3/2026, 11:18:09 PM
2026-09-18
$42.50
7/3/2026, 11:18:09 PM
2026-12-18
$27.50
7/3/2026, 11:18:09 PM
2027-01-15
$30.00
7/3/2026, 11:18:09 PM
2027-04-16
$35.00
7/3/2026, 11:18:09 PM
Selected expiration: 2026-07-17 at max pain $42.50.
NE pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
55250
55250
37.5
0
30500
30500
40
1500
15750
17250
42.5
7250
3250
10500
45
22250
250
22500
47.5
617000
0
617000
50
1260750
0
1260750
52.5
1952250
0
1952250
55
2647000
0
2647000
57.5
3357750
0
3357750
60
4074000
0
4074000
65
5513000
0
5513000
75
8392000
0
8392000
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.