This page reflects NOC 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 — NOC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $520.00 (29.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$520.00
Nearest expiry
Expected Move
±$28.25
±5.2%
Days to Expiry
15
Calendar days
Total Call OI
1,726
Nearest expiry
Total Put OI
1,241
Nearest expiry
P/C OI Ratio
0.72
Put-heavy
Spot Price
$549.01
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
$565.00
5/15/2026, 11:31:08 PM
2026-06-18
$550.00
6/18/2026, 11:23:35 PM
2026-07-17NextUpdated
$520.00
7/3/2026, 11:19:30 PM
2026-08-21
$555.00
7/3/2026, 11:19:30 PM
2026-09-18
$560.00
7/3/2026, 11:19:30 PM
2026-11-20
$540.00
7/3/2026, 11:19:30 PM
2026-12-18
$540.00
7/3/2026, 11:19:30 PM
2027-01-15
$570.00
7/3/2026, 11:19:30 PM
2027-02-19
$590.00
7/3/2026, 11:19:30 PM
2027-03-19
$600.00
7/3/2026, 11:19:30 PM
2027-06-17
$540.00
7/3/2026, 11:19:30 PM
Selected expiration: 2026-07-17 at max pain $520.00.
NOC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
445
0
7279000
7279000
450
0
6671000
6671000
460
0
5486000
5486000
465
0
4904000
4904000
470
0
4377500
4377500
475
1500
3879000
3880500
480
13500
3386500
3400000
485
30000
2920000
2950000
490
47000
2474000
2521000
495
69000
2053500
2122500
500
92500
1651500
1744000
505
156500
1307500
1464000
510
236500
982000
1218500
515
331000
714500
1045500
520
471500
544500
1016000
525
667000
396000
1063000
530
875000
277000
1152000
535
1089500
181000
1270500
540
1317500
106500
1424000
545
1591000
55500
1646500
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.