This page reflects SGML 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 — SGML
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $14.50 (2.21 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.50
Nearest expiry
Expected Move
±$0.80
±6.5%
Days to Expiry
8
Calendar days
Total Call OI
121
Nearest expiry
Total Put OI
321
Nearest expiry
P/C OI Ratio
2.65
Put-heavy
Spot Price
$12.29
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
$13.00
6/26/2026, 11:26:22 PM
2026-07-02
$12.00
7/2/2026, 11:29:31 PM
2026-07-10NextUpdated
$14.50
7/3/2026, 11:29:04 PM
2026-07-17
$13.50
7/3/2026, 11:29:04 PM
2026-07-24
$12.00
7/3/2026, 11:29:04 PM
2026-07-31
$13.00
7/3/2026, 11:29:04 PM
2026-08-21
$12.00
7/3/2026, 11:29:04 PM
2026-10-16
$16.00
7/3/2026, 11:29:04 PM
2027-01-15
$10.00
7/3/2026, 11:29:04 PM
Selected expiration: 2026-07-10 at max pain $14.50.
SGML pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
237400
237400
8.5
700
125050
125750
9
800
111950
112750
10
1000
86050
87050
10.5
1100
73450
74550
11
1200
61150
62350
11.5
1450
48950
50400
12
1700
37150
38850
12.5
2350
28350
30700
13
3000
20650
23650
13.5
3650
15600
19250
14
5400
10750
16150
14.5
7750
7250
15000
15
10400
5150
15550
15.5
13450
3450
16900
16
16500
1850
18350
16.5
21050
250
21300
17
25600
0
25600
17.5
30250
0
30250
18
34950
0
34950
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.