This page reflects PGY 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 — PGY
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $15.00 (2.79 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
±$2.12
±11.9%
Days to Expiry
15
Calendar days
Total Call OI
13,324
Nearest expiry
Total Put OI
2,802
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$17.79
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, 11:31:33 PM
2026-06-18
$14.00
6/18/2026, 11:26:43 PM
2026-07-17NextUpdated
$15.00
7/3/2026, 11:24:47 PM
2026-08-21
$15.00
7/3/2026, 11:24:47 PM
2026-11-20
$15.00
7/3/2026, 11:24:47 PM
2027-01-15
$15.00
7/3/2026, 11:24:47 PM
2027-02-19
$15.00
7/3/2026, 11:24:47 PM
2027-06-17
$3.00
7/3/2026, 11:24:47 PM
Selected expiration: 2026-07-17 at max pain $15.00.
PGY pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
2405800
2405800
7
0
2125600
2125600
8
300
1845400
1845700
9
1200
1566400
1567600
10
2200
1287800
1290000
11
22300
1011300
1033600
12
49600
751800
801400
13
88400
516700
605100
14
138300
338500
476800
15
240600
210100
450700
16
402400
109500
511900
17
677100
53100
730200
18
1110200
20900
1131100
19
1799600
3200
1802800
20
2571400
1200
2572600
21
3756100
600
3756700
22
4977600
400
4978000
23
6297400
200
6297600
24
7625700
100
7625800
25
8954900
0
8954900
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.