This page reflects TW 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 — TW
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $100.00 (2.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$5.35
±5.2%
Days to Expiry
15
Calendar days
Total Call OI
1,363
Nearest expiry
Total Put OI
567
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$102.79
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
$110.00
5/15/2026, 11:40:39 PM
2026-06-18
$100.00
6/18/2026, 11:38:20 PM
2026-07-17NextUpdated
$100.00
7/3/2026, 11:30:31 PM
2026-08-21
$95.00
7/3/2026, 11:30:31 PM
2026-10-16
$95.00
7/3/2026, 11:30:31 PM
2027-01-15
$90.00
7/3/2026, 11:30:31 PM
Selected expiration: 2026-07-17 at max pain $100.00.
TW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
1513000
1513000
70
0
1230500
1230500
75
0
948500
948500
80
0
668500
668500
85
0
389500
389500
90
1000
221000
222000
95
13000
69000
82000
100
36500
34500
71000
105
74500
25000
99500
110
126500
17500
144000
115
687500
13000
700500
120
1321000
8500
1329500
125
1978000
5000
1983000
130
2651000
2500
2653500
135
3330000
0
3330000
140
4011000
0
4011000
145
4692000
0
4692000
150
5373000
0
5373000
155
6054500
0
6054500
160
6736000
0
6736000
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.