This page reflects SAP 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 — SAP
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $160.00 (2.59 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$160.00
Nearest expiry
Expected Move
±$7.80
±4.8%
Days to Expiry
8
Calendar days
Total Call OI
592
Nearest expiry
Total Put OI
227
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$162.59
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$155.00
6/26/2026, 11:30:54 PM
2026-07-02
$157.50
7/2/2026, 11:29:10 PM
2026-07-10NextUpdated
$160.00
7/3/2026, 11:30:11 PM
2026-07-17
$155.00
7/3/2026, 11:30:11 PM
2026-07-24
$165.00
7/3/2026, 11:30:11 PM
2026-07-31
$160.00
7/3/2026, 11:30:11 PM
2026-08-07
$165.00
7/3/2026, 11:30:11 PM
2026-08-21
$155.00
7/3/2026, 11:30:11 PM
2026-09-18
$190.00
7/3/2026, 11:30:11 PM
2026-12-18
$195.00
7/3/2026, 11:30:11 PM
2027-01-15
$185.00
7/3/2026, 11:30:11 PM
2027-03-19
$180.00
7/3/2026, 11:30:11 PM
2027-06-17
$170.00
7/3/2026, 11:30:11 PM
Selected expiration: 2026-07-10 at max pain $160.00.
SAP pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
1417800
1417800
125
0
626800
626800
130
0
514300
514300
135
0
402300
402300
140
0
290800
290800
141
0
269800
269800
145
0
191800
191800
147
0
156200
156200
149
0
120600
120600
150
0
107000
107000
152.5
3250
83250
86500
155
6750
59500
66250
157.5
10500
41250
51750
160
18000
23500
41500
162.5
30000
14500
44500
165
43500
6500
50000
167.5
107000
4500
111500
170
180000
2500
182500
172.5
257750
1500
259250
175
335750
500
336250
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.