This page reflects NEXT 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 — NEXT
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $7.00 (0.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.00
Nearest expiry
Expected Move
±$0.82
±10.9%
Days to Expiry
15
Calendar days
Total Call OI
77,799
Nearest expiry
Total Put OI
32,222
Nearest expiry
P/C OI Ratio
0.41
Put-heavy
Spot Price
$7.58
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
$7.00
5/15/2026, 11:27:38 PM
2026-06-18
$8.00
6/18/2026, 11:28:44 PM
2026-07-17NextUpdated
$7.00
7/3/2026, 11:20:23 PM
2026-08-21
$8.00
7/3/2026, 11:20:23 PM
2026-10-16
$7.00
7/3/2026, 11:20:23 PM
2027-01-15
$7.00
7/3/2026, 11:20:23 PM
Selected expiration: 2026-07-17 at max pain $7.00.
NEXT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
14742600
14742600
2
1400
11520400
11521800
3
8200
8298200
8306400
4
20700
5076000
5096700
5
63500
2931600
2995100
6
181000
1316900
1497900
7
366200
324400
690600
8
955900
87700
1043600
9
1971000
400
1971400
10
3248800
0
3248800
11
5876200
0
5876200
12
11179000
0
11179000
13
16625600
0
16625600
15
27721400
0
27721400
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.