This page reflects SPHR 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 — SPHR
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $140.00 (23.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$140.00
Nearest expiry
Expected Move
±$13.45
±8.2%
Days to Expiry
15
Calendar days
Total Call OI
1,107
Nearest expiry
Total Put OI
2,511
Nearest expiry
P/C OI Ratio
2.27
Put-heavy
Spot Price
$163.79
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, 11:38:24 PM
2026-06-18
$130.00
6/18/2026, 11:30:51 PM
2026-07-17NextUpdated
$140.00
7/3/2026, 11:32:32 PM
2026-08-21
$130.00
7/3/2026, 11:32:32 PM
2026-11-20
$125.00
7/3/2026, 11:32:32 PM
2027-01-15
$40.00
7/3/2026, 11:32:32 PM
2027-02-19
$115.00
7/3/2026, 11:32:32 PM
Selected expiration: 2026-07-17 at max pain $140.00.
SPHR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
12514500
12514500
60
500
11259000
11259500
65
1500
10003500
10005000
70
2500
8748000
8750500
75
3500
7492500
7496000
80
5500
6237000
6242500
85
7500
5030500
5038000
90
9500
3826000
3835500
95
11500
2631000
2642500
100
14000
2080000
2094000
105
16500
1723000
1739500
110
19000
1465500
1484500
115
28500
1234500
1263000
120
45000
1005500
1050500
125
70500
785500
856000
130
104500
577500
682000
135
158000
384500
542500
140
252000
286500
538500
145
387500
210500
598000
150
547000
145500
692500
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.