This page reflects PAAS 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 — PAAS
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $45.50 (0.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.50
Nearest expiry
Expected Move
±$1.15
±2.5%
Days to Expiry
8
Calendar days
Total Call OI
1,604
Nearest expiry
Total Put OI
572
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$46.29
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
$47.00
6/26/2026, 11:24:03 PM
2026-07-02
$45.00
7/2/2026, 11:27:16 PM
2026-07-10NextUpdated
$45.50
7/3/2026, 11:24:29 PM
2026-07-17
$50.00
7/3/2026, 11:24:29 PM
2026-07-24
$48.00
7/3/2026, 11:24:29 PM
2026-07-31
$46.00
7/3/2026, 11:24:29 PM
2026-08-07
$44.00
7/3/2026, 11:24:29 PM
2026-08-21
$48.00
7/3/2026, 11:24:29 PM
2026-10-16
$50.00
7/3/2026, 11:24:29 PM
2026-11-20
$55.00
7/3/2026, 11:24:29 PM
2027-01-15
$35.00
7/3/2026, 11:24:29 PM
2027-03-19
$50.00
7/3/2026, 11:24:29 PM
Selected expiration: 2026-07-10 at max pain $45.50.
PAAS pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
34
0
611900
611900
35
0
554800
554800
36
0
500400
500400
36.5
0
473300
473300
37
1100
446400
447500
37.5
3300
419950
423250
38
5500
393700
399200
38.5
7700
367550
375250
39
9900
341600
351500
40
14300
290000
304300
41
18700
239400
258100
42
23100
189900
213000
42.5
25400
166350
191750
43
27700
144750
172450
43.5
30000
124750
154750
44
32300
106000
138300
44.5
34750
88350
123100
45
37200
72900
110100
45.5
41950
62150
104100
46
53250
51400
104650
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.