This page reflects ZVRA 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 — ZVRA
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $11.00 (2.98 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$1.25
±8.9%
Days to Expiry
15
Calendar days
Total Call OI
5,171
Nearest expiry
Total Put OI
214
Nearest expiry
P/C OI Ratio
0.04
Put-heavy
Spot Price
$13.98
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
$9.00
5/15/2026, 11:47:00 PM
2026-06-18
$11.00
6/18/2026, 11:38:59 PM
2026-07-17NextUpdated
$11.00
7/3/2026, 11:32:19 PM
2026-08-21
$9.00
7/3/2026, 11:32:19 PM
2026-11-20
$12.00
7/3/2026, 11:32:19 PM
2026-12-18
$8.00
7/3/2026, 11:32:19 PM
2027-01-15
$7.00
7/3/2026, 11:32:19 PM
Selected expiration: 2026-07-17 at max pain $11.00.
ZVRA pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
187600
187600
4
0
166500
166500
5
0
145500
145500
6
5200
124600
129800
7
10600
103700
114300
8
16300
82800
99100
9
22100
62300
84400
10
28000
42000
70000
11
42000
25800
67800
12
348300
11600
359900
13
697300
3200
700500
14
1081700
2500
1084200
15
1493200
1900
1495100
16
2007600
1500
2009100
17
2523600
1100
2524700
18
3039600
700
3040300
19
3556300
400
3556700
20
4073100
100
4073200
21
4590200
0
4590200
22
5107300
0
5107300
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.