This page reflects TXT 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 — TXT
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $87.50 (5.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$87.50
Nearest expiry
Expected Move
±$4.62
±5.0%
Days to Expiry
15
Calendar days
Total Call OI
1,605
Nearest expiry
Total Put OI
509
Nearest expiry
P/C OI Ratio
0.32
Put-heavy
Spot Price
$92.50
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
$87.50
5/15/2026, 11:41:11 PM
2026-06-18
$87.50
6/18/2026, 11:34:37 PM
2026-07-17NextUpdated
$87.50
7/3/2026, 11:32:37 PM
2026-08-21
$87.50
7/3/2026, 11:32:37 PM
2026-09-18
$87.50
7/3/2026, 11:32:37 PM
2026-11-20
$87.50
7/3/2026, 11:32:37 PM
2026-12-18
$82.50
7/3/2026, 11:32:37 PM
Selected expiration: 2026-07-17 at max pain $87.50.
TXT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
795000
795000
80
5000
286000
291000
82.5
7750
171000
178750
85
10500
95750
106250
87.5
32000
31500
63500
90
100500
12000
112500
92.5
236750
2750
239500
95
506500
500
507000
97.5
833000
250
833250
100
1163750
0
1163750
105
1924250
0
1924250
110
2688750
0
2688750
125
5087250
0
5087250
130
5889250
0
5889250
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.