This page reflects SJM 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 — SJM
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $100.00 (16.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$5.00
±4.3%
Days to Expiry
15
Calendar days
Total Call OI
8,416
Nearest expiry
Total Put OI
3,269
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$116.28
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
$100.00
5/15/2026, 11:40:40 PM
2026-06-18
$105.00
6/18/2026, 11:31:16 PM
2026-07-17NextUpdated
$100.00
7/3/2026, 11:31:23 PM
2026-08-21
$110.00
7/3/2026, 11:31:23 PM
2026-09-18
$105.00
7/3/2026, 11:31:23 PM
2026-10-16
$105.00
7/3/2026, 11:31:23 PM
2027-01-15
$100.00
7/3/2026, 11:31:23 PM
Selected expiration: 2026-07-17 at max pain $100.00.
SJM pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
14959500
14959500
60
0
13328500
13328500
65
0
11701000
11701000
70
0
10074500
10074500
75
4000
8454000
8458000
80
8000
6840500
6848500
85
13500
5260500
5274000
90
22500
3729000
3751500
95
50000
2332500
2382500
100
118000
1250500
1368500
105
2499000
695000
3194000
110
5027500
272000
5299500
115
8567500
39000
8606500
120
12403000
3500
12406500
125
16469000
2500
16471500
130
20629500
1500
20631000
135
24805000
1000
24806000
140
28988000
500
28988500
145
33173500
0
33173500
150
37381000
0
37381000
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.