This page reflects SPG 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 — SPG
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $210.00 (16.06 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$6.97
±3.1%
Days to Expiry
15
Calendar days
Total Call OI
3,315
Nearest expiry
Total Put OI
3,878
Nearest expiry
P/C OI Ratio
1.17
Put-heavy
Spot Price
$226.06
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
$200.00
5/15/2026, 11:38:11 PM
2026-06-18
$210.00
6/18/2026, 11:33:10 PM
2026-07-17NextUpdated
$210.00
7/3/2026, 11:25:44 PM
2026-08-21
$220.00
7/3/2026, 11:25:44 PM
2026-09-18
$195.00
7/3/2026, 11:25:44 PM
2026-10-16
$200.00
7/3/2026, 11:25:44 PM
2026-12-18
$200.00
7/3/2026, 11:25:44 PM
2027-01-15
$190.00
7/3/2026, 11:25:44 PM
2027-03-19
$195.00
7/3/2026, 11:25:44 PM
2027-06-17
$220.00
7/3/2026, 11:25:44 PM
Selected expiration: 2026-07-17 at max pain $210.00.
SPG pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
30860500
30860500
120
0
26983500
26983500
125
0
25048000
25048000
130
0
23116500
23116500
135
0
21185000
21185000
140
0
19253500
19253500
145
0
17327000
17327000
150
0
15412500
15412500
155
0
13515000
13515000
160
0
11631000
11631000
165
0
9764000
9764000
170
500
7932500
7933000
175
1000
6291500
6292500
180
2000
5243000
5245000
185
3500
4256500
4260000
190
5500
3333000
3338500
195
41000
2531000
2572000
200
152000
1854000
2006000
210
688000
739000
1427000
220
1952000
36000
1988000
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.