This page reflects SANM 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 — SANM
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $240.00 (20.23 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$240.00
Nearest expiry
Expected Move
±$27.25
±12.4%
Days to Expiry
15
Calendar days
Total Call OI
4,818
Nearest expiry
Total Put OI
2,767
Nearest expiry
P/C OI Ratio
0.57
Put-heavy
Spot Price
$219.77
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
$145.00
5/15/2026, 11:35:58 PM
2026-06-18
$230.00
6/18/2026, 11:30:32 PM
2026-07-17NextUpdated
$240.00
7/3/2026, 11:28:13 PM
2026-08-21
$240.00
7/3/2026, 11:28:13 PM
2026-10-16
$210.00
7/3/2026, 11:28:13 PM
2026-12-18
$220.00
7/3/2026, 11:28:13 PM
2027-01-15
$190.00
7/3/2026, 11:28:13 PM
Selected expiration: 2026-07-17 at max pain $240.00.
SANM pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
45209500
45209500
70
1500
43826000
43827500
75
3500
42442500
42446000
80
5500
41059000
41064500
85
10500
39678500
39689000
90
19000
38298000
38317000
95
32500
36919000
36951500
100
49000
35542000
35591000
105
75500
34168500
34244000
110
107000
32802500
32909500
115
140000
31439500
31579500
120
174000
30080000
30254000
125
213000
28733000
28946000
130
257500
27399000
27656500
135
310500
26075000
26385500
140
369000
24755000
25124000
145
441000
23437500
23878500
150
532500
22126500
22659000
155
640000
20821000
21461000
160
758500
19518500
20277000
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.