This page reflects WAT 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 — WAT
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $350.00 (29.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$20.70
±5.5%
Days to Expiry
15
Calendar days
Total Call OI
396
Nearest expiry
Total Put OI
205
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$379.29
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
$340.00
5/15/2026, 11:46:42 PM
2026-06-18
$340.00
6/18/2026, 11:39:28 PM
2026-07-17NextUpdated
$350.00
7/3/2026, 11:30:03 PM
2026-08-21
$340.00
7/3/2026, 11:30:03 PM
2026-11-20
$370.00
7/3/2026, 11:30:03 PM
2027-01-15
$350.00
7/3/2026, 11:30:03 PM
Selected expiration: 2026-07-17 at max pain $350.00.
WAT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
250
0
1529000
1529000
260
0
1325000
1325000
270
0
1125000
1125000
280
0
929000
929000
290
0
739000
739000
300
0
552000
552000
320
0
188000
188000
330
0
132000
132000
340
1000
81000
82000
350
4000
33000
37000
360
222000
8000
230000
370
563000
4000
567000
380
918000
0
918000
390
1286000
0
1286000
400
1673000
0
1673000
410
2067000
0
2067000
420
2462000
0
2462000
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.