This page reflects TRN 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 — TRN
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $35.00 (0.88 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$2.20
±6.5%
Days to Expiry
15
Calendar days
Total Call OI
642
Nearest expiry
Total Put OI
4,704
Nearest expiry
P/C OI Ratio
7.33
Put-heavy
Spot Price
$34.12
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
$31.00
5/15/2026, 11:40:59 PM
2026-06-18
$35.00
6/18/2026, 11:35:04 PM
2026-07-17NextUpdated
$35.00
7/3/2026, 11:30:24 PM
2026-08-21
$36.00
7/3/2026, 11:30:24 PM
2026-10-16
$27.00
7/3/2026, 11:30:24 PM
2027-01-15
$28.00
7/3/2026, 11:30:24 PM
Selected expiration: 2026-07-17 at max pain $35.00.
TRN pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
8811100
8811100
18
300
7400500
7400800
19
500
6930300
6930800
20
800
6460100
6460900
21
1100
5990000
5991100
22
1400
5522400
5523800
24
2200
4587400
4589600
25
2800
4132200
4135000
26
3700
3677300
3681000
27
4700
3222600
3227300
28
7700
2770700
2778400
29
10700
2320500
2331200
30
13800
1870300
1884100
31
31700
1420500
1452200
32
53100
970900
1024000
33
77100
521700
598800
34
111900
72500
184400
35
148400
35100
183500
36
202200
0
202200
37
257900
0
257900
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.