This page reflects TEL 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 — TEL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $220.00 (22.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$15.00
±7.6%
Days to Expiry
15
Calendar days
Total Call OI
1,976
Nearest expiry
Total Put OI
2,528
Nearest expiry
P/C OI Ratio
1.28
Put-heavy
Spot Price
$197.44
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
$230.00
5/15/2026, 11:40:40 PM
2026-06-18
$210.00
6/18/2026, 11:34:49 PM
2026-07-17NextUpdated
$220.00
7/3/2026, 11:27:25 PM
2026-08-21
$200.00
7/3/2026, 11:27:25 PM
2026-09-18
$220.00
7/3/2026, 11:27:25 PM
2026-10-16
$240.00
7/3/2026, 11:27:25 PM
2026-11-20
$210.00
7/3/2026, 11:27:25 PM
2026-12-18
$200.00
7/3/2026, 11:27:25 PM
2027-01-15
$210.00
7/3/2026, 11:27:25 PM
2027-02-19
$110.00
7/3/2026, 11:27:25 PM
2027-05-21
$115.00
7/3/2026, 11:27:25 PM
Selected expiration: 2026-07-17 at max pain $220.00.
TEL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
130
0
16507000
16507000
140
0
13983000
13983000
145
0
12721500
12721500
150
500
11461500
11462000
155
1000
10203500
10204500
160
1500
8949000
8950500
165
2000
7700000
7702000
170
2500
6455500
6458000
175
3000
5244000
5247000
180
3500
4056500
4060000
185
8000
2894500
2902500
190
13000
1927500
1940500
195
20000
1477000
1497000
200
50500
1073000
1123500
210
340500
522000
862500
220
702500
111000
813500
230
1219500
25000
1244500
240
1960500
5000
1965500
250
3088500
0
3088500
260
4821500
0
4821500
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.