This page reflects WMG 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 — WMG
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $28.00 (0.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$2.70
±9.6%
Days to Expiry
15
Calendar days
Total Call OI
17,870
Nearest expiry
Total Put OI
18,522
Nearest expiry
P/C OI Ratio
1.04
Put-heavy
Spot Price
$28.28
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
$29.00
5/15/2026, 11:46:55 PM
2026-06-18
$30.00
6/18/2026, 11:34:19 PM
2026-07-17NextUpdated
$28.00
7/3/2026, 11:28:40 PM
2026-08-21
$22.00
7/3/2026, 11:28:40 PM
2026-10-16
$31.00
7/3/2026, 11:28:40 PM
2026-11-20
$26.00
7/3/2026, 11:28:40 PM
2027-01-15
$27.00
7/3/2026, 11:28:40 PM
Selected expiration: 2026-07-17 at max pain $28.00.
WMG pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
16
0
14824100
14824100
17
0
12971900
12971900
18
0
11119700
11119700
20
0
7415300
7415300
22
0
3710900
3710900
23
0
1858800
1858800
24
0
9600
9600
25
0
7600
7600
26
0
5800
5800
27
0
4500
4500
28
700
3500
4200
29
1600
3000
4600
30
115500
2500
118000
31
230000
2000
232000
32
345300
1500
346800
33
473000
1000
474000
34
605800
500
606300
35
738900
0
738900
36
976400
0
976400
37
2575200
0
2575200
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.