This page reflects VMI 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 — VMI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $550.00 (5.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$550.00
Nearest expiry
Expected Move
±$28.70
±5.2%
Days to Expiry
15
Calendar days
Total Call OI
39
Nearest expiry
Total Put OI
351
Nearest expiry
P/C OI Ratio
9.00
Put-heavy
Spot Price
$555.35
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, 11:44:04 PM
2026-06-18
$500.00
6/18/2026, 11:37:41 PM
2026-07-17NextUpdated
$550.00
7/3/2026, 11:31:20 PM
2026-08-21
$570.00
7/3/2026, 11:31:20 PM
2026-09-18
$430.00
7/3/2026, 11:31:20 PM
2026-12-18
$500.00
7/3/2026, 11:31:20 PM
Selected expiration: 2026-07-17 at max pain $550.00.
VMI pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
370
0
5822000
5822000
380
1000
5471000
5472000
440
13000
3365000
3378000
450
15000
3019000
3034000
460
18000
2678000
2696000
480
26000
1996000
2022000
490
31000
1656000
1687000
500
36000
1317000
1353000
510
43000
989000
1032000
520
51000
661000
712000
530
61000
439000
500000
540
80000
219000
299000
550
101000
11000
112000
560
122000
3000
125000
570
144000
0
144000
580
170000
0
170000
590
202000
0
202000
600
237000
0
237000
630
354000
0
354000
640
393000
0
393000
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.