Packaging Corporation of AmericClose $238.20EOD only
Max Pain
$220.00
Next expiry Jul 17, 2026
Expected Move
±$11.35
4.8% from close
Price Gap
-18.20
Distance to max pain
IV Rank
20
Low premium
P/C OI
0.21
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects PKG 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 — PKG
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $220.00 (18.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$11.35
±4.8%
Days to Expiry
15
Calendar days
Total Call OI
2,076
Nearest expiry
Total Put OI
463
Nearest expiry
P/C OI Ratio
0.22
Put-heavy
Spot Price
$238.20
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
$210.00
5/15/2026, 11:31:44 PM
2026-06-18
$220.00
6/18/2026, 11:28:32 PM
2026-07-17NextUpdated
$220.00
7/3/2026, 11:27:07 PM
2026-08-21
$240.00
7/3/2026, 11:27:07 PM
2026-10-16
$200.00
7/3/2026, 11:27:07 PM
2027-01-15
$230.00
7/3/2026, 11:27:07 PM
Selected expiration: 2026-07-17 at max pain $220.00.
PKG pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
3670500
3670500
145
0
2754500
2754500
155
0
2296500
2296500
160
1000
2073500
2074500
165
2000
1852500
1854500
170
3000
1634000
1637000
175
4000
1436500
1440500
180
5500
1241000
1246500
185
7500
1054500
1062000
190
9500
888500
898000
195
12000
739500
751500
200
16000
593000
609000
210
41000
363000
404000
220
69000
137000
206000
230
155000
74000
229000
240
889000
36000
925000
250
1893000
2000
1895000
260
3863000
1000
3864000
270
5874000
0
5874000
280
7924000
0
7924000
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.