This page reflects TRVI 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 — TRVI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $14.00 (3.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$1.57
±8.8%
Days to Expiry
15
Calendar days
Total Call OI
12,278
Nearest expiry
Total Put OI
1,123
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$17.93
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
$14.00
5/15/2026, 11:39:27 PM
2026-06-18
$14.00
6/18/2026, 11:35:13 PM
2026-07-17NextUpdated
$14.00
7/3/2026, 11:32:47 PM
2026-08-21
$15.00
7/3/2026, 11:32:47 PM
2026-10-16
$11.00
7/3/2026, 11:32:47 PM
2027-01-15
$10.00
7/3/2026, 11:32:47 PM
Selected expiration: 2026-07-17 at max pain $14.00.
TRVI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
879400
879400
7
100
767100
767200
8
300
654800
655100
9
2600
542600
545200
10
4900
430400
435300
11
8500
318200
326700
12
14400
236300
250700
13
20300
154500
174800
14
27200
123000
150200
15
80800
91500
172300
16
557700
60300
618000
17
1461500
30200
1491700
18
2375400
100
2375500
19
3483500
0
3483500
20
4607000
0
4607000
22
7042600
0
7042600
23
8260400
0
8260400
25
10716000
0
10716000
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.