Industrial Select Sector SPDRClose $183.91EOD only
Max Pain
$175.00
Next expiry Jul 10, 2026
Expected Move
±$7.85
4.3% from close
Price Gap
-8.91
Distance to max pain
IV Rank
10
Low premium
P/C OI
3.36
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Jul 2, 2026 close
End-of-day snapshot
This page reflects XLI 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 — XLI
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-10 shows max pain at $175.00 (8.91 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$7.85
±4.3%
Days to Expiry
8
Calendar days
Total Call OI
6,187
Nearest expiry
Total Put OI
4,410
Nearest expiry
P/C OI Ratio
0.71
Put-heavy
Spot Price
$183.91
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
$178.00
6/26/2026, 11:34:56 PM
2026-07-02
$184.00
7/2/2026, 11:37:47 PM
2026-07-10NextUpdated
$175.00
7/3/2026, 11:32:01 PM
2026-07-17
$179.00
7/3/2026, 11:32:01 PM
2026-07-24
$174.00
7/3/2026, 11:32:01 PM
2026-07-31
$180.00
7/3/2026, 11:32:01 PM
2026-08-07
$180.00
7/3/2026, 11:32:01 PM
2026-08-21
$170.00
7/3/2026, 11:32:01 PM
2026-09-18
$174.00
7/3/2026, 11:32:01 PM
2026-11-20
$171.00
7/3/2026, 11:32:01 PM
2026-12-18
$170.00
7/3/2026, 11:32:01 PM
2027-01-15
$165.00
7/3/2026, 11:32:01 PM
2027-03-19
$185.00
7/3/2026, 11:32:01 PM
2027-06-17
$155.00
7/3/2026, 11:32:01 PM
Selected expiration: 2026-07-10 at max pain $175.00.
XLI pain by strike for 2026-07-10 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
35643100
35643100
110
0
29029600
29029600
150
0
11397600
11397600
155
0
9194600
9194600
157
0
8319000
8319000
157.5
0
8100250
8100250
158
0
7881650
7881650
159
0
7444750
7444750
160
0
7008050
7008050
161
0
6572350
6572350
162
0
6136750
6136750
163
0
5701250
5701250
164
0
5265850
5265850
165
0
4830750
4830750
166
0
4397050
4397050
167
0
3963950
3963950
167.5
600
3747550
3748150
168
1200
3531200
3532400
169
3900
3099700
3103600
170
6600
2668500
2675100
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.