This page reflects SHEL 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 — SHEL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $79.00 (0.98 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$79.00
Nearest expiry
Expected Move
±$1.95
±2.5%
Days to Expiry
8
Calendar days
Total Call OI
11,664
Nearest expiry
Total Put OI
645
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$78.02
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
$79.00
6/26/2026, 11:27:18 PM
2026-07-02
$76.00
7/2/2026, 11:30:43 PM
2026-07-10NextUpdated
$79.00
7/3/2026, 11:26:29 PM
2026-07-17
$80.00
7/3/2026, 11:26:29 PM
2026-07-24
$78.00
7/3/2026, 11:26:29 PM
2026-07-31
$80.00
7/3/2026, 11:26:29 PM
2026-08-07
$77.00
7/3/2026, 11:26:29 PM
2026-08-21
$77.50
7/3/2026, 11:26:29 PM
2026-09-18
$82.50
7/3/2026, 11:26:29 PM
2026-10-16
$80.00
7/3/2026, 11:26:29 PM
2026-12-18
$80.00
7/3/2026, 11:26:29 PM
2027-01-15
$62.50
7/3/2026, 11:26:29 PM
2027-03-19
$82.50
7/3/2026, 11:26:29 PM
2027-06-17
$92.50
7/3/2026, 11:26:29 PM
Selected expiration: 2026-07-10 at max pain $79.00.
SHEL pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
1775800
1775800
72
0
359000
359000
73
0
296500
296500
74
0
237000
237000
75
0
180400
180400
76
300
127300
127600
77
600
75800
76400
78
14300
32600
46900
79
32000
7500
39500
80
92300
5800
98100
81
174900
4400
179300
82
279900
3300
283200
83
1390400
2200
1392600
84
2501400
1100
2502500
85
3615800
1000
3616800
86
4733300
900
4734200
87
5853600
800
5854400
88
6975600
700
6976300
89
8099500
600
8100100
90
9228100
500
9228600
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.