This page reflects STLD 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 — STLD
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $240.00 (19.61 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$240.00
Nearest expiry
Expected Move
±$16.25
±7.4%
Days to Expiry
15
Calendar days
Total Call OI
2,796
Nearest expiry
Total Put OI
2,572
Nearest expiry
P/C OI Ratio
0.92
Put-heavy
Spot Price
$220.39
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, 11:33:48 PM
2026-06-18
$210.00
6/18/2026, 11:38:48 PM
2026-07-17NextUpdated
$240.00
7/3/2026, 11:31:09 PM
2026-08-21
$220.00
7/3/2026, 11:31:09 PM
2026-09-18
$190.00
7/3/2026, 11:31:09 PM
2026-11-20
$250.00
7/3/2026, 11:31:09 PM
2026-12-18
$190.00
7/3/2026, 11:31:09 PM
2027-01-15
$170.00
7/3/2026, 11:31:09 PM
2027-03-19
$190.00
7/3/2026, 11:31:09 PM
2027-06-17
$110.00
7/3/2026, 11:31:09 PM
Selected expiration: 2026-07-17 at max pain $240.00.
STLD pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
35936000
35936000
60
0
34650000
34650000
65
0
33376000
33376000
70
0
32104000
32104000
75
0
30832000
30832000
80
0
29566000
29566000
85
0
28300000
28300000
90
0
27056000
27056000
95
0
25819000
25819000
100
0
24590500
24590500
105
0
23417500
23417500
110
1500
22244500
22246000
115
3000
21077000
21080000
120
4500
19909500
19914000
125
6000
18742000
18748000
130
7500
17574500
17582000
135
9500
16429000
16438500
140
11500
15286000
15297500
145
13500
14155500
14169000
150
16500
13025000
13041500
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.