What is XLF max pain this week?

XLF max pain for the nearest expiration (2026-07-10) is $54.00. Total call open interest: 87,988. Total put open interest: 23,809.

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 XLFMax Pain

XLF

Financial Select Sector SPDRClose $55.62EOD only

Max Pain

$54.00

Next expiry Jul 10, 2026

Expected Move

±$0.92

1.6% from close

Price Gap

-1.62

Distance to max pain

IV Rank

Low premium

P/C OI

1.28

Slightly put-heavy

Consensus

7.0/10

Range bias

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

This page reflects XLF 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 — XLF

Data as of market close Jul 2, 2026

Open Directional Report

Nearest listed expiration 2026-07-10 shows max pain at $54.00 (1.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$54.00

Nearest expiry

Expected Move

±$0.92

±1.6%

Days to Expiry

Calendar days

Total Call OI

87,988

Nearest expiry

Total Put OI

23,809

Nearest expiry

P/C OI Ratio

0.27

Put-heavy

Spot Price

$55.62

Published close

Consensus

7.0/10

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
2026-06-30	$53.00	6/30/2026, 11:36:03 PM
2026-07-02	$53.50	7/2/2026, 11:36:19 PM
2026-07-10NextUpdated	$54.00	7/3/2026, 11:33:08 PM
2026-07-17	$53.00	7/3/2026, 11:33:08 PM
2026-07-24	$53.00	7/3/2026, 11:33:08 PM
2026-07-31	$53.00	7/3/2026, 11:33:08 PM
2026-08-07	$52.50	7/3/2026, 11:33:08 PM
2026-08-21	$52.00	7/3/2026, 11:33:08 PM
2026-09-18	$52.00	7/3/2026, 11:33:08 PM
2026-09-30	$53.00	7/3/2026, 11:33:08 PM
2026-10-16	$52.00	7/3/2026, 11:33:08 PM
2026-11-20	$50.00	7/3/2026, 11:33:08 PM
2026-12-18	$51.00	7/3/2026, 11:33:08 PM
2026-12-31	$49.00	7/3/2026, 11:33:08 PM
2027-01-15	$52.00	7/3/2026, 11:33:08 PM
2027-03-19	$52.00	7/3/2026, 11:33:08 PM
2027-03-31	$50.00	7/3/2026, 11:33:08 PM
2027-06-17	$52.00	7/3/2026, 11:33:08 PM

Selected expiration: 2026-07-10 at max pain $54.00.

XLF pain by strike for 2026-07-10 expiration
Strike	Call Pain	Put Pain	Total Pain
44	0	19684600	19684600
45.5	0	16114000	16114000
46	0	14926050	14926050
46.5	0	13743300	13743300
47	0	12567750	12567750
47.5	0	11406550	11406550
48	0	10246050	10246050
48.5	300	9201750	9202050
49	600	8183500	8184100
49.5	1950	7250000	7251950
50	3600	6329500	6333100
50.5	7550	5415750	5423300
51	12850	4536300	4549150
51.5	22550	3663050	3685600
52	34850	2810150	2845000
52.5	56300	1990300	2046600
53	89700	1286000	1375700
53.5	196700	667850	864550
54	441400	71750	513150
54.5	755950	18700	774650

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.