This page reflects THC 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 — THC
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $185.00 (18.72 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$185.00
Nearest expiry
Expected Move
±$12.60
±6.2%
Days to Expiry
15
Calendar days
Total Call OI
1,787
Nearest expiry
Total Put OI
2,371
Nearest expiry
P/C OI Ratio
1.33
Put-heavy
Spot Price
$203.72
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
$190.00
5/15/2026, 11:39:39 PM
2026-06-18
$170.00
6/18/2026, 11:33:03 PM
2026-07-17NextUpdated
$185.00
7/3/2026, 11:29:18 PM
2026-08-21
$185.00
7/3/2026, 11:29:18 PM
2026-11-20
$190.00
7/3/2026, 11:29:18 PM
2026-12-18
$125.00
7/3/2026, 11:29:18 PM
2027-01-15
$195.00
7/3/2026, 11:29:18 PM
Selected expiration: 2026-07-17 at max pain $185.00.
THC pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
14947000
14947000
130
9000
7834000
7843000
135
11000
6677500
6688500
140
13000
5526500
5539500
145
16500
4388000
4404500
150
20000
3252500
3272500
155
24000
2128500
2152500
160
28500
1654000
1682500
165
36000
1186500
1222500
170
49000
775500
824500
175
70500
423500
494000
180
100500
226000
326500
185
143000
138000
281000
190
517000
70000
587000
195
1033500
22000
1055500
200
1721500
9000
1730500
210
3241500
2000
3243500
220
4848500
0
4848500
230
6621500
0
6621500
240
8396500
0
8396500
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.