This page reflects TDW 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 — TDW
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $70.00 (1.88 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$4.97
±7.3%
Days to Expiry
15
Calendar days
Total Call OI
1,906
Nearest expiry
Total Put OI
1,248
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$68.12
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
$85.00
5/15/2026, 11:36:16 PM
2026-06-18
$75.00
6/18/2026, 11:34:30 PM
2026-07-17NextUpdated
$70.00
7/3/2026, 11:31:04 PM
2026-08-21
$65.00
7/3/2026, 11:31:04 PM
2026-10-16
$70.00
7/3/2026, 11:31:04 PM
2027-01-15
$65.00
7/3/2026, 11:31:04 PM
Selected expiration: 2026-07-17 at max pain $70.00.
TDW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
3904500
3904500
35
0
3302000
3302000
40
0
2711000
2711000
45
3000
2126000
2129000
50
6000
1611000
1617000
55
13000
1148000
1161000
60
25000
714500
739500
65
102500
376000
478500
70
238000
92500
330500
75
505500
40000
545500
80
886500
25500
912000
85
1395000
13500
1408500
90
2018500
4000
2022500
95
2722000
500
2722500
100
3443000
0
3443000
105
4305000
0
4305000
110
5180000
0
5180000
115
6120500
0
6120500
120
7072500
0
7072500
125
8024500
0
8024500
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.