This page reflects PAR 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 — PAR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $15.00 (4.05 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
±$2.25
±11.8%
Days to Expiry
15
Calendar days
Total Call OI
7,771
Nearest expiry
Total Put OI
4,088
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$19.05
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
$13.00
5/15/2026, 11:32:59 PM
2026-06-18
$14.00
6/18/2026, 11:30:14 PM
2026-07-17NextUpdated
$15.00
7/3/2026, 11:22:40 PM
2026-08-21
$15.00
7/3/2026, 11:22:40 PM
2026-10-16
$17.50
7/3/2026, 11:22:40 PM
2026-12-18
$17.50
7/3/2026, 11:22:40 PM
2027-01-15
$15.00
7/3/2026, 11:22:40 PM
2027-06-17
$15.00
7/3/2026, 11:22:40 PM
Selected expiration: 2026-07-17 at max pain $15.00.
PAR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
5115150
5115150
3
100
4706350
4706450
4
400
4297550
4297950
5
800
3895050
3895850
6
1200
3495350
3496550
7
1700
3107150
3108850
8
2200
2718950
2721150
9
2700
2337650
2340350
10
3200
1960550
1963750
11
3700
1645550
1649250
12
4300
1337250
1341550
13
5800
1201850
1207650
14
9500
1079650
1089150
15
92900
967250
1060150
16
379100
873250
1252350
17.5
1166600
738400
1905000
19
2104100
625750
2729850
20
2740600
551750
3292350
21
3401400
485150
3886550
22.5
4432200
392750
4824950
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.