This page reflects NWL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Jul 6, 2026 close
Max Pain — NWL
Data as of market close Jul 6, 2026
Nearest listed expiration 2026-07-17 shows max pain at $4.00 (1.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.57
±10.3%
Days to Expiry
11
Calendar days
Total Call OI
21,939
Nearest expiry
Total Put OI
1,570
Nearest expiry
P/C OI Ratio
0.07
Put-heavy
Spot Price
$5.57
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
$4.00
5/15/2026, 11:31:55 PM
2026-06-18
$4.00
6/18/2026, 11:24:45 PM
2026-07-17NextUpdated
$4.00
7/6/2026, 11:22:57 PM
2026-08-21
$5.00
7/6/2026, 11:22:57 PM
2026-09-18
$4.00
7/6/2026, 11:22:57 PM
2026-12-18
$5.00
7/6/2026, 11:22:57 PM
2027-01-15
$5.00
7/6/2026, 11:22:57 PM
Selected expiration: 2026-07-17 at max pain $4.00.
NWL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
475200
475200
2
100
324300
324400
3
200
187000
187200
4
3000
66700
69700
5
111300
13900
125200
6
1213200
200
1213400
7
3375600
0
3375600
8
5568000
0
5568000
9
7761600
0
7761600
11
12149000
0
12149000
12
14342800
0
14342800
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.