Western Alliance BancorporationClose $81.54EOD only
Max Pain
$80.00
Next expiry Jul 17, 2026
Expected Move
±$5.25
6.4% from close
Price Gap
-1.54
Distance to max pain
IV Rank
12
Low premium
P/C OI
1.08
Balanced positioning
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects WAL 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 — WAL
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $80.00 (1.54 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$5.25
±6.4%
Days to Expiry
15
Calendar days
Total Call OI
3,304
Nearest expiry
Total Put OI
6,756
Nearest expiry
P/C OI Ratio
2.04
Put-heavy
Spot Price
$81.54
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
$75.00
5/15/2026, 11:46:51 PM
2026-06-18
$75.00
6/18/2026, 11:33:38 PM
2026-07-17NextUpdated
$80.00
7/3/2026, 11:33:09 PM
2026-08-21
$72.50
7/3/2026, 11:33:09 PM
2026-09-18
$77.50
7/3/2026, 11:33:09 PM
2026-11-20
$77.50
7/3/2026, 11:33:09 PM
2026-12-18
$80.00
7/3/2026, 11:33:09 PM
2027-01-15
$72.50
7/3/2026, 11:33:09 PM
Selected expiration: 2026-07-17 at max pain $80.00.
WAL pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
37.5
0
25876250
25876250
40
0
24194250
24194250
42.5
0
22523000
22523000
45
0
20853250
20853250
47.5
0
19183500
19183500
50
0
17515000
17515000
55
5000
14196500
14201500
60
10000
10911000
10921000
62.5
15000
9357250
9372250
65
27500
7803750
7831250
67.5
42250
6261750
6304000
70
64000
4721000
4785000
72.5
88500
3225250
3313750
75
133000
1755500
1888500
77.5
190250
997250
1187500
80
251750
253500
505250
82.5
378250
198250
576500
85
554250
157500
711750
87.5
806500
131250
937750
90
1112750
105000
1217750
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.