This page reflects SGHC 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 — SGHC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $9.75 (4.76 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.75
Nearest expiry
Expected Move
±$0.97
±6.7%
Days to Expiry
15
Calendar days
Total Call OI
113,853
Nearest expiry
Total Put OI
3,879
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$14.51
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
$9.00
5/15/2026, 11:35:18 PM
2026-06-18
$10.00
6/18/2026, 11:31:20 PM
2026-07-17NextUpdated
$9.75
7/3/2026, 11:30:42 PM
2026-08-21
$14.00
7/3/2026, 11:30:42 PM
2026-10-16
$14.00
7/3/2026, 11:30:42 PM
2026-12-18
$9.75
7/3/2026, 11:30:42 PM
2027-01-15
$10.00
7/3/2026, 11:30:42 PM
Selected expiration: 2026-07-17 at max pain $9.75.
SGHC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
0.75
0
4233500
4233500
1.75
0
3850000
3850000
2.75
0
3466500
3466500
3.75
0
3083100
3083100
4.75
0
2699700
2699700
5.75
0
2316300
2316300
6
0
2220450
2220450
6.75
0
1932975
1932975
7
0
1837150
1837150
7.75
1800
1550575
1552375
8
2475
1456150
1458625
8.75
4650
1173325
1177975
9
5400
1082050
1087450
9.75
7725
812725
820450
10
141800
729850
871650
10.75
546875
498025
1044900
11
3001675
429700
3431375
11.75
10741225
231550
10972775
12
13335025
202950
13537975
12.75
21124600
121275
21245875
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.