Protagonist Therapeutics, Inc.Close $131.62EOD only
Max Pain
$90.00
Next expiry Jul 17, 2026
Expected Move
±$49.85
37.9% from close
Price Gap
-41.62
Distance to max pain
IV Rank
19
Low premium
P/C OI
0.49
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects PTGX 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 — PTGX
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $90.00 (41.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$49.85
±37.9%
Days to Expiry
15
Calendar days
Total Call OI
1,079
Nearest expiry
Total Put OI
806
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$131.62
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
$100.00
5/15/2026, 11:31:45 PM
2026-06-18
$100.00
6/18/2026, 11:31:41 PM
2026-07-17NextUpdated
$90.00
7/3/2026, 11:24:32 PM
2026-08-21
$120.00
7/3/2026, 11:24:32 PM
2026-10-16
$75.00
7/3/2026, 11:24:32 PM
2027-01-15
$80.00
7/3/2026, 11:24:32 PM
Selected expiration: 2026-07-17 at max pain $90.00.
PTGX pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
4388000
4388000
40
500
3985000
3985500
45
14000
3582500
3596500
50
32500
3181000
3213500
55
53500
2779500
2833000
60
74500
2378000
2452500
65
108500
1977000
2085500
70
143500
1576000
1719500
75
194500
1177000
1371500
80
265500
842500
1108000
85
361500
520000
881500
90
505500
213000
718500
95
675500
144500
820000
100
891000
86000
977000
105
1147000
45500
1192500
110
1438000
27000
1465000
115
1753500
11500
1765000
120
2187500
0
2187500
125
2648000
0
2648000
130
3153000
0
3153000
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.