This page reflects PH 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 — PH
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $940.00 (22.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$940.00
Nearest expiry
Expected Move
±$43.35
±4.5%
Days to Expiry
15
Calendar days
Total Call OI
706
Nearest expiry
Total Put OI
1,990
Nearest expiry
P/C OI Ratio
2.82
Put-heavy
Spot Price
$962.89
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
$880.00
5/15/2026, 11:30:24 PM
2026-06-18
$890.00
6/18/2026, 11:27:55 PM
2026-07-17NextUpdated
$940.00
7/3/2026, 11:25:46 PM
2026-08-21
$860.00
7/3/2026, 11:25:46 PM
2026-11-20
$880.00
7/3/2026, 11:25:46 PM
2027-02-19
$910.00
7/3/2026, 11:25:46 PM
Selected expiration: 2026-07-17 at max pain $940.00.
PH pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
650
0
46941000
46941000
660
0
44952000
44952000
670
0
42964000
42964000
690
0
38990000
38990000
700
1000
37003000
37004000
720
3000
33033000
33036000
730
4000
31141000
31145000
740
6000
29250000
29256000
750
8000
27362000
27370000
760
10000
25480000
25490000
770
12000
23600000
23612000
780
16000
21720000
21736000
790
20000
19848000
19868000
800
24000
17979000
18003000
810
30000
16118000
16148000
820
36000
14283000
14319000
830
46000
12517000
12563000
840
61000
10766000
10827000
850
77000
9122000
9199000
860
115000
7627000
7742000
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.