This page reflects SDRL 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 — SDRL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $40.00 (0.13 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.68
±9.2%
Days to Expiry
15
Calendar days
Total Call OI
1,307
Nearest expiry
Total Put OI
155
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$39.87
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
$45.00
5/15/2026, 11:38:35 PM
2026-06-18
$40.00
6/18/2026, 11:35:46 PM
2026-07-17NextUpdated
$40.00
7/3/2026, 11:27:56 PM
2026-08-21
$45.00
7/3/2026, 11:27:56 PM
2026-10-16
$35.00
7/3/2026, 11:27:56 PM
2026-12-18
$50.00
7/3/2026, 11:27:56 PM
2027-01-15
$30.00
7/3/2026, 11:27:56 PM
Selected expiration: 2026-07-17 at max pain $40.00.
SDRL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
217500
217500
20
0
186250
186250
22.5
0
160000
160000
25
0
136500
136500
30
500
97000
97500
35
1000
58000
59000
40
11000
25000
36000
45
208000
6000
214000
50
654000
500
654500
55
1230500
0
1230500
60
1815500
0
1815500
65
2417000
0
2417000
70
3020500
0
3020500
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.