This page reflects WVE 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 — WVE
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $7.00 (0.74 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.00
Nearest expiry
Expected Move
±$0.78
±12.4%
Days to Expiry
15
Calendar days
Total Call OI
13,034
Nearest expiry
Total Put OI
2,017
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$6.26
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
$7.00
5/15/2026, 11:47:11 PM
2026-06-18
$6.00
6/18/2026, 11:39:48 PM
2026-07-17NextUpdated
$7.00
7/3/2026, 11:33:58 PM
2026-08-21
$6.00
7/3/2026, 11:33:58 PM
2026-10-16
$8.00
7/3/2026, 11:33:58 PM
2026-12-18
$5.00
7/3/2026, 11:33:58 PM
2027-01-15
$5.00
7/3/2026, 11:33:58 PM
2027-06-17
$3.00
7/3/2026, 11:33:58 PM
Selected expiration: 2026-07-17 at max pain $7.00.
WVE pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1242900
1242900
2
600
1041800
1042400
3
4300
841800
846100
4
8000
641800
649800
5
11700
442300
454000
6
34700
262000
296700
7
91200
173800
265000
8
346800
121300
468100
9
1168300
91300
1259600
10
2055400
63500
2118900
11
3014900
36800
3051700
12
4061100
15200
4076300
13
5115000
7700
5122700
14
6187700
5600
6193300
15
7293100
5000
7298100
16
8467100
4400
8471500
17
9650800
3800
9654600
18
10834500
3200
10837700
19
12045700
2600
12048300
20
13256900
2000
13258900
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.