This page reflects OPRA 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 — OPRA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $15.00 (4.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.38
±1.9%
Days to Expiry
15
Calendar days
Total Call OI
10,219
Nearest expiry
Total Put OI
1,664
Nearest expiry
P/C OI Ratio
0.16
Put-heavy
Spot Price
$19.90
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, 11:27:56 PM
2026-06-18
$17.00
6/18/2026, 11:24:29 PM
2026-07-17NextUpdated
$15.00
7/3/2026, 11:22:23 PM
2026-08-21
$16.00
7/3/2026, 11:22:23 PM
2026-10-16
$15.00
7/3/2026, 11:22:23 PM
2027-01-15
$12.50
7/3/2026, 11:22:23 PM
2027-06-17
$15.00
7/3/2026, 11:22:23 PM
Selected expiration: 2026-07-17 at max pain $15.00.
OPRA pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1507700
1507700
6
700
1341300
1342000
7
1700
1174900
1176600
8
2700
1008500
1011200
9
3700
842800
846500
10
5700
679900
685600
11
7700
519600
527300
12
9700
366300
376000
13
11700
277600
289300
14
15900
203700
219600
15
66200
147300
213500
16
126700
97700
224400
17
208700
51600
260300
18
312600
16300
328900
19
448900
400
449300
20
998800
200
999000
21
1644600
0
1644600
22
2622500
0
2622500
23
3615800
0
3615800
25
5604400
0
5604400
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.