This page reflects PPL 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 — PPL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $34.00 (2.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$34.00
Nearest expiry
Expected Move
±$1.12
±3.0%
Days to Expiry
15
Calendar days
Total Call OI
20,194
Nearest expiry
Total Put OI
1,328
Nearest expiry
P/C OI Ratio
0.07
Put-heavy
Spot Price
$36.89
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
$38.00
5/15/2026, 11:34:15 PM
2026-06-18
$35.00
6/18/2026, 11:24:58 PM
2026-07-17NextUpdated
$34.00
7/3/2026, 11:22:24 PM
2026-08-21
$37.00
7/3/2026, 11:22:24 PM
2026-10-16
$36.00
7/3/2026, 11:22:24 PM
2027-01-15
$32.00
7/3/2026, 11:22:24 PM
Selected expiration: 2026-07-17 at max pain $34.00.
PPL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1274800
1274800
26
1400
1144100
1145500
27
2800
1013500
1016300
28
4200
882900
887100
29
5600
753300
758900
30
7000
624900
631900
31
8400
508600
517000
32
9800
395000
404800
33
12000
282200
294200
34
14900
184100
199000
35
113900
99100
213000
36
391700
45100
436800
37
716100
23700
739800
38
1562900
13000
1575900
39
3428600
5500
3434100
40
5374800
600
5375400
41
7342300
400
7342700
42
9328200
200
9328400
43
11325000
0
11325000
44
13334700
0
13334700
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.