This page reflects OGE 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 — OGE
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-09-18 shows max pain at $40.00 (9.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$1.10
±2.2%
Days to Expiry
78
Calendar days
Total Call OI
449
Nearest expiry
Total Put OI
113
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$49.44
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-09-18
Expiration
Max Pain Strike
Last Updated
2026-05-15
$40.00
5/15/2026, 11:28:52 PM
2026-06-18
$45.00
6/18/2026, 11:24:02 PM
2026-09-18NextUpdated
$40.00
7/3/2026, 11:23:29 PM
2026-12-18
$40.00
7/3/2026, 11:23:29 PM
Selected expiration: 2026-09-18 at max pain $40.00.
OGE pain by strike for 2026-09-18 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
205750
205750
25
0
177500
177500
30
500
121000
121500
35
1000
64500
65500
40
1500
8000
9500
45
13500
2000
15500
50
58000
1000
59000
55
184000
0
184000
60
408500
0
408500
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.