This page reflects SRE 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 — SRE
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $95.00 (1.94 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$4.08
±4.4%
Days to Expiry
15
Calendar days
Total Call OI
5,174
Nearest expiry
Total Put OI
3,315
Nearest expiry
P/C OI Ratio
0.64
Put-heavy
Spot Price
$93.06
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
$95.00
5/15/2026, 11:35:08 PM
2026-06-18
$90.00
6/18/2026, 11:37:43 PM
2026-07-17NextUpdated
$95.00
7/3/2026, 11:25:28 PM
2026-08-21
$90.00
7/3/2026, 11:25:28 PM
2026-10-16
$90.00
7/3/2026, 11:25:28 PM
2026-11-20
$90.00
7/3/2026, 11:25:28 PM
2027-01-15
$80.00
7/3/2026, 11:25:28 PM
Selected expiration: 2026-07-17 at max pain $95.00.
SRE pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
12640000
12640000
55
0
10983500
10983500
65
3000
7676500
7679500
70
4500
6023000
6027500
75
6000
4424000
4430000
80
8000
2838500
2846500
85
10000
1301000
1311000
90
21500
288000
309500
95
249500
1000
250500
100
1865000
0
1865000
105
4368000
0
4368000
110
6934500
0
6934500
115
9519000
0
9519000
120
12105000
0
12105000
130
17277000
0
17277000
135
19863500
0
19863500
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.