This page reflects TLN 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 — TLN
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $395.00 (30.33 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$395.00
Nearest expiry
Expected Move
±$27.80
±7.6%
Days to Expiry
8
Calendar days
Total Call OI
1,279
Nearest expiry
Total Put OI
998
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$364.67
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-10
Expiration
Max Pain Strike
Last Updated
2026-06-26
$395.00
6/26/2026, 11:30:26 PM
2026-07-02
$385.00
7/2/2026, 11:31:19 PM
2026-07-10NextUpdated
$395.00
7/3/2026, 11:31:42 PM
2026-07-17
$370.00
7/3/2026, 11:31:42 PM
2026-07-24
$415.00
7/3/2026, 11:31:42 PM
2026-07-31
$410.00
7/3/2026, 11:31:42 PM
2026-08-07
$335.00
7/3/2026, 11:31:42 PM
2026-08-21
$350.00
7/3/2026, 11:31:42 PM
2026-09-18
$400.00
7/3/2026, 11:31:42 PM
2026-10-16
$310.00
7/3/2026, 11:31:42 PM
2026-11-20
$300.00
7/3/2026, 11:31:42 PM
2026-12-18
$370.00
7/3/2026, 11:31:42 PM
2027-01-15
$320.00
7/3/2026, 11:31:42 PM
2027-02-19
$290.00
7/3/2026, 11:31:42 PM
2027-03-19
$350.00
7/3/2026, 11:31:42 PM
2027-06-17
$340.00
7/3/2026, 11:31:42 PM
Selected expiration: 2026-07-10 at max pain $395.00.
TLN pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
220
0
14230750
14230750
225
0
13740750
13740750
235
0
12762750
12762750
245
0
11794750
11794750
250
0
11311250
11311250
255
0
10829250
10829250
260
500
10361750
10362250
265
1000
9898750
9899750
270
1500
9438250
9439750
275
2000
8981250
8983250
280
3000
8525750
8528750
285
4000
8071250
8075250
290
5000
7617250
7622250
295
6000
7165250
7171250
300
7500
6721250
6728750
305
10000
6283750
6293750
310
14500
5850750
5865250
315
19000
5421250
5440250
320
24000
5046750
5070750
325
29500
4676750
4706250
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.