Nearest listed expiration 2026-07-10 shows max pain at $25.00 (3.82 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.75
±13.0%
Days to Expiry
8
Calendar days
Total Call OI
50,912
Nearest expiry
Total Put OI
24,457
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$21.18
Published close
Consensus
7.5/10
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, 11:36:09 PM
2026-07-02
$24.50
7/2/2026, 11:36:43 PM
2026-07-10NextUpdated
$25.00
7/3/2026, 11:34:12 PM
2026-07-17
$22.00
7/3/2026, 11:34:12 PM
2026-07-24
$26.50
7/3/2026, 11:34:12 PM
2026-07-31
$24.00
7/3/2026, 11:34:12 PM
2026-08-07
$24.50
7/3/2026, 11:34:12 PM
2026-08-21
$20.00
7/3/2026, 11:34:12 PM
2026-09-18
$22.00
7/3/2026, 11:34:12 PM
2026-10-16
$25.00
7/3/2026, 11:34:12 PM
2026-11-20
$22.00
7/3/2026, 11:34:12 PM
2026-12-18
$16.00
7/3/2026, 11:34:12 PM
2027-01-15
$12.00
7/3/2026, 11:34:12 PM
2027-02-19
$25.00
7/3/2026, 11:34:12 PM
2027-06-17
$20.00
7/3/2026, 11:34:12 PM
Selected expiration: 2026-07-10 at max pain $25.00.
WULF pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
19248050
19248050
16
9200
16807950
16817150
17
19800
14373450
14393250
18
41300
11951350
11992650
19
62800
9553750
9616550
19.5
75350
8570650
8646000
20
87900
7614350
7702250
20.5
103500
6712950
6816450
21
122000
5842650
5964650
21.5
148600
4999250
5147850
22
176750
4186000
4362750
22.5
206000
3427250
3633250
23
235900
2722000
2957900
23.5
274300
2035450
2309750
24
358050
1623750
1981800
24.5
594150
1227950
1822100
25
906900
848250
1755150
25.5
2076200
509300
2585500
26
3313000
441450
3754450
26.5
4644400
383850
5028250
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.