This page reflects TPB 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 — TPB
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $80.00 (5.94 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$6.80
±7.9%
Days to Expiry
15
Calendar days
Total Call OI
2,010
Nearest expiry
Total Put OI
609
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$85.94
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
$75.00
5/15/2026, 11:41:08 PM
2026-06-18
$80.00
6/18/2026, 11:31:24 PM
2026-07-17NextUpdated
$80.00
7/3/2026, 11:31:20 PM
2026-08-21
$80.00
7/3/2026, 11:31:20 PM
2026-09-18
$85.00
7/3/2026, 11:31:20 PM
2026-10-16
$75.00
7/3/2026, 11:31:20 PM
2026-12-18
$75.00
7/3/2026, 11:31:20 PM
2027-01-15
$90.00
7/3/2026, 11:31:20 PM
Selected expiration: 2026-07-17 at max pain $80.00.
TPB pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
1322000
1322000
50
0
1018000
1018000
55
2000
714500
716500
60
4500
412000
416500
65
7000
312000
319000
70
9500
215000
224500
75
12500
120500
133000
80
16000
56000
72000
85
210500
24000
234500
90
432000
6000
438000
95
687500
1000
688500
100
1084500
0
1084500
105
1494500
0
1494500
110
1907500
0
1907500
115
2822500
0
2822500
120
3744500
0
3744500
125
4672000
0
4672000
130
5606500
0
5606500
135
6542000
0
6542000
140
7482000
0
7482000
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.