What is WBD max pain this week?

WBD max pain for the nearest expiration (2026-07-10) is $27.00. Total call open interest: 964. Total put open interest: 4,146.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options WBDMax Pain

WBD

Warner Bros. Discovery, Inc. - Close $26.48EOD only

Max Pain

$27.00

Next expiry Jul 10, 2026

Expected Move

±$0.37

1.4% from close

Price Gap

+0.52

Distance to max pain

IV Rank

Middle-high premium

P/C OI

2.03

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

This page reflects WBD 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 — WBD

Data as of market close Jul 2, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-07-10 shows max pain at $27.00 (0.52 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$27.00

Nearest expiry

Expected Move

±$0.37

±1.4%

Days to Expiry

Calendar days

Total Call OI

964

Nearest expiry

Total Put OI

4,146

Nearest expiry

P/C OI Ratio

4.30

Put-heavy

Spot Price

$26.48

Published close

Consensus

Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration

Selected: 2026-07-10

Expiration	Max Pain Strike	Last Updated
2026-06-26	$27.00	6/26/2026, 11:35:50 PM
2026-07-02	$27.00	7/2/2026, 11:34:05 PM
2026-07-10NextUpdated	$27.00	7/3/2026, 11:34:40 PM
2026-07-17	$27.00	7/3/2026, 11:34:40 PM
2026-07-24	$27.00	7/3/2026, 11:34:40 PM
2026-07-31	$27.00	7/3/2026, 11:34:40 PM
2026-08-07	$28.00	7/3/2026, 11:34:40 PM
2026-08-21	$27.00	7/3/2026, 11:34:40 PM
2026-09-18	$26.00	7/3/2026, 11:34:40 PM
2026-10-16	$28.00	7/3/2026, 11:34:40 PM
2026-11-20	$27.00	7/3/2026, 11:34:40 PM
2026-12-18	$27.00	7/3/2026, 11:34:40 PM
2027-01-15	$20.00	7/3/2026, 11:34:40 PM
2027-03-19	$27.00	7/3/2026, 11:34:40 PM
2027-06-17	$27.00	7/3/2026, 11:34:40 PM

Selected expiration: 2026-07-10 at max pain $27.00.

WBD pain by strike for 2026-07-10 expiration
Strike	Call Pain	Put Pain	Total Pain
15	0	3191350	3191350
17	400	2362150	2362550
18	700	1947550	1948250
19	1000	1533050	1534050
20	1300	1244750	1246050
21	1700	986450	988150
22	2100	728450	730550
23	2500	536350	538850
23.5	2700	440350	443050
24	2900	344400	347300
24.5	3100	248700	251800
25	3300	153200	156500
25.5	3600	93350	96950
26	3900	49150	53050
26.5	6500	26700	33200
27	9100	9350	18450
27.5	37850	6500	44350
28	68300	4000	72300
28.5	103100	2000	105100
29	137950	0	137950

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.