What is Z max pain this week?

Z max pain for the nearest expiration (2026-07-17) is $35.00. Total call open interest: 17,195. Total put open interest: 10,101.

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 ZMax Pain

Z

Zillow Group, Inc.Close $33.43EOD only

Max Pain

$35.00

Next expiry Jul 17, 2026

Expected Move

±$3.20

9.6% from close

Price Gap

+1.57

Distance to max pain

IV Rank

Low premium

P/C OI

0.57

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

This page reflects Z 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 — Z

Data as of market close Jul 2, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-07-17 shows max pain at $35.00 (1.57 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$35.00

Nearest expiry

Expected Move

±$3.20

±9.6%

Days to Expiry

Calendar days

Total Call OI

17,195

Nearest expiry

Total Put OI

10,101

Nearest expiry

P/C OI Ratio

0.59

Put-heavy

Spot Price

$33.43

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	$42.50	5/15/2026, 11:47:45 PM
2026-06-18	$42.50	6/18/2026, 11:33:03 PM
2026-07-17NextUpdated	$35.00	7/3/2026, 11:31:47 PM
2026-08-21	$37.50	7/3/2026, 11:31:47 PM
2026-09-18	$35.00	7/3/2026, 11:31:47 PM
2026-11-20	$30.00	7/3/2026, 11:31:47 PM
2026-12-18	$42.50	7/3/2026, 11:31:47 PM
2027-01-15	$37.50	7/3/2026, 11:31:47 PM
2027-02-19	$30.00	7/3/2026, 11:31:47 PM
2027-03-19	$35.00	7/3/2026, 11:31:47 PM
2027-06-17	$30.00	7/3/2026, 11:31:47 PM

Selected expiration: 2026-07-17 at max pain $35.00.

Z pain by strike for 2026-07-17 expiration
Strike	Call Pain	Put Pain	Total Pain
22.5	0	10046500	10046500
25	250	7524250	7524500
27.5	2250	5607750	5610000
30	8000	4167750	4175750
32.5	55750	3055250	3111000
35	316750	2110000	2426750
37.5	920000	1545750	2465750
40	1688750	1000000	2688750
42.5	3825500	500000	4325500
45	6499500	0	6499500
47.5	10150000	0	10150000
50	14197750	0	14197750
55	22588750	0	22588750

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.