This page reflects ZTO 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 — ZTO
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $24.00 (0.92 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$24.00
Nearest expiry
Expected Move
±$1.55
±6.7%
Days to Expiry
15
Calendar days
Total Call OI
915
Nearest expiry
Total Put OI
8,081
Nearest expiry
P/C OI Ratio
8.83
Put-heavy
Spot Price
$23.08
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
$24.00
5/15/2026, 11:48:05 PM
2026-06-18
$25.00
6/18/2026, 11:38:44 PM
2026-07-17NextUpdated
$24.00
7/3/2026, 11:31:59 PM
2026-08-21
$20.00
7/3/2026, 11:31:59 PM
2026-09-18
$25.00
7/3/2026, 11:31:59 PM
2026-10-16
$22.00
7/3/2026, 11:31:59 PM
2026-12-18
$25.00
7/3/2026, 11:31:59 PM
2027-01-15
$25.00
7/3/2026, 11:31:59 PM
Selected expiration: 2026-07-17 at max pain $24.00.
ZTO pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
11
0
9656000
9656000
12
600
8847900
8848500
13
1200
8040100
8041300
14
1800
7232400
7234200
15
2400
6424800
6427200
16
3000
5617300
5620300
17
3600
4809900
4813500
18
4200
4002600
4006800
19
4800
3196100
3200900
20
6000
2391000
2397000
21
8400
1597100
1605500
22
10800
809800
820600
23
18100
81900
100000
24
38700
9000
47700
25
99400
3300
102700
26
172300
0
172300
27
254700
0
254700
28
341000
0
341000
29
427900
0
427900
30
515400
0
515400
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.