This page reflects NRIX 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 — NRIX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $17.00 (6.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$5.22
±21.8%
Days to Expiry
15
Calendar days
Total Call OI
2,214
Nearest expiry
Total Put OI
477
Nearest expiry
P/C OI Ratio
0.22
Put-heavy
Spot Price
$23.97
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
$16.00
5/15/2026, 11:28:21 PM
2026-06-18
$16.00
6/18/2026, 11:24:34 PM
2026-07-17NextUpdated
$17.00
7/3/2026, 11:22:18 PM
2026-08-21
$16.00
7/3/2026, 11:22:18 PM
2026-10-16
$15.00
7/3/2026, 11:22:18 PM
2027-01-15
$17.00
7/3/2026, 11:22:18 PM
Selected expiration: 2026-07-17 at max pain $17.00.
NRIX pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
782000
782000
5
0
688600
688600
6
100
642500
642600
7
300
600700
601000
10
900
475900
476800
12
1300
392700
394000
13
1500
351100
352600
14
5800
310100
315900
15
18100
270500
288600
16
41900
233600
275500
17
67600
197800
265400
18
105400
162600
268000
19
196100
127600
323700
20
343100
93000
436100
21
529600
58600
588200
22
728700
30200
758900
23
928600
20100
948700
24
1129000
10000
1139000
25
1329600
0
1329600
26
1549100
0
1549100
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.