This page reflects PSMT 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 — PSMT
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $165.00 (32.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$165.00
Nearest expiry
Expected Move
±$5.95
±3.0%
Days to Expiry
15
Calendar days
Total Call OI
195
Nearest expiry
Total Put OI
34
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$197.90
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
$155.00
5/15/2026, 11:31:45 PM
2026-06-18
$155.00
6/18/2026, 11:32:36 PM
2026-07-17NextUpdated
$165.00
7/3/2026, 11:24:20 PM
2026-10-16
$160.00
7/3/2026, 11:24:20 PM
2027-01-15
$175.00
7/3/2026, 11:24:20 PM
Selected expiration: 2026-07-17 at max pain $165.00.
PSMT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
274000
274000
100
3000
172000
175000
110
6000
138000
144000
115
7500
121000
128500
120
9500
104000
113500
125
11500
87000
98500
130
13500
73000
86500
135
15500
59000
74500
140
17500
47000
64500
145
19500
39000
58500
150
22500
31000
53500
155
25500
23000
48500
160
28500
17000
45500
165
33500
11000
44500
170
39000
6500
45500
175
83500
2500
86000
180
138500
1500
140000
185
198500
1000
199500
190
259500
500
260000
195
321500
0
321500
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.