Texas Pacific Land CorporationClose $407.20EOD only
Max Pain
$400.00
Next expiry Jul 17, 2026
Expected Move
±$26.00
6.4% from close
Price Gap
-7.20
Distance to max pain
IV Rank
13
Low premium
P/C OI
0.57
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects TPL 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 — TPL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $400.00 (7.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$400.00
Nearest expiry
Expected Move
±$26.00
±6.4%
Days to Expiry
15
Calendar days
Total Call OI
5,029
Nearest expiry
Total Put OI
1,791
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$407.20
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
$400.00
5/15/2026, 11:38:07 PM
2026-06-18
$380.00
6/18/2026, 11:35:31 PM
2026-07-17NextUpdated
$400.00
7/3/2026, 11:30:28 PM
2026-08-21
$380.00
7/3/2026, 11:30:28 PM
2026-10-16
$400.00
7/3/2026, 11:30:28 PM
2027-01-15
$400.00
7/3/2026, 11:30:28 PM
Selected expiration: 2026-07-17 at max pain $400.00.
TPL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
146.67
0
42736407
42736407
153.33
0
41550927
41550927
160
1334
40365668
40367002
166.67
3335
39187746
39191081
170
4667
38599668
38604335
180
8667
36833668
36842335
185
10667
35953668
35964335
186.67
11502
35659748
35671250
190
13167
35073668
35086835
193.33
14832
34487588
34502420
200
18167
33313668
33331835
210
25167
31557668
31582835
213.33
27498
30973586
31001084
220
32167
29805669
29837836
230
39167
28054669
28093836
233.33
41498
27472918
27514416
240
48168
26307669
26355837
246.67
55505
25142420
25197925
250
59168
24560669
24619837
253.33
63830
23979917
24043747
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.