Plains All American Pipeline, LClose $22.51EOD only
Max Pain
$22.00
Next expiry Jul 10, 2026
Expected Move
±$0.55
2.4% from close
Price Gap
-0.51
Distance to max pain
IV Rank
22
Low premium
P/C OI
0.16
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects PAA 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 — PAA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $22.00 (0.51 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$0.55
±2.4%
Days to Expiry
8
Calendar days
Total Call OI
322
Nearest expiry
Total Put OI
68
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$22.51
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$21.00
6/26/2026, 11:24:08 PM
2026-07-02
$20.50
7/2/2026, 11:26:37 PM
2026-07-10NextUpdated
$22.00
7/3/2026, 11:25:04 PM
2026-07-17
$23.00
7/3/2026, 11:25:04 PM
2026-07-24
$21.00
7/3/2026, 11:25:04 PM
2026-07-31
$22.50
7/3/2026, 11:25:04 PM
2026-08-21
$20.00
7/3/2026, 11:25:04 PM
2026-11-20
$21.00
7/3/2026, 11:25:04 PM
2027-01-15
$20.00
7/3/2026, 11:25:04 PM
2027-02-19
$18.00
7/3/2026, 11:25:04 PM
Selected expiration: 2026-07-10 at max pain $22.00.
PAA pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
14
0
50850
50850
17
6300
30450
36750
18
8900
23650
32550
20.5
15400
10400
25800
21
16700
7850
24550
21.5
18100
5500
23600
22
19800
3200
23000
22.5
23750
1500
25250
23
30300
0
30300
23.5
39950
0
39950
24
49850
0
49850
24.5
64900
0
64900
27.5
161500
0
161500
32
306400
0
306400
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.