This page reflects PBI 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 — PBI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $14.00 (2.82 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$1.10
±6.5%
Days to Expiry
15
Calendar days
Total Call OI
7,700
Nearest expiry
Total Put OI
3,035
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$16.82
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
$12.00
5/15/2026, 11:30:48 PM
2026-06-18
$13.00
6/18/2026, 11:27:38 PM
2026-07-17NextUpdated
$14.00
7/3/2026, 11:21:40 PM
2026-08-21
$16.00
7/3/2026, 11:21:40 PM
2026-10-16
$12.00
7/3/2026, 11:21:40 PM
2026-11-20
$14.00
7/3/2026, 11:21:40 PM
2027-01-15
$5.00
7/3/2026, 11:21:40 PM
Selected expiration: 2026-07-17 at max pain $14.00.
PBI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
3649300
3649300
2
700
3345800
3346500
3
1600
3042300
3043900
5
3400
2435300
2438700
6
4500
2131800
2136300
7
5900
1828800
1834700
8
7400
1526800
1534200
9
9000
1273800
1282800
10
28100
1031700
1059800
11
67900
807000
874900
12
153700
595600
749300
13
269200
399700
668900
14
401100
246800
647900
15
852400
106000
958400
16
1321300
29100
1350400
17
1897200
4900
1902100
18
2548100
3400
2551500
19
3259300
2600
3261900
20
4013000
1800
4014800
21
4782400
1100
4783500
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.