This page reflects AA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 20, 2026 close
Max Pain — AA
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $64.00 (0.14 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$64.00
Nearest expiry
Expected Move
±$2.58
±4.0%
Days to Expiry
2
Calendar days
Total Call OI
16,361
Nearest expiry
Total Put OI
8,560
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$64.14
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$63.00
5/8/2026, 11:01:01 PM
2026-05-15
$66.00
5/15/2026, 11:01:01 PM
2026-05-22NextUpdated
$64.00
5/20/2026, 11:01:01 PM
2026-05-29
$65.00
5/20/2026, 11:01:01 PM
2026-06-05
$65.00
5/20/2026, 11:01:01 PM
2026-06-12
$64.00
5/20/2026, 11:01:01 PM
2026-06-18
$50.00
5/20/2026, 11:01:01 PM
2026-06-26
$64.00
5/20/2026, 11:01:01 PM
2026-07-17
$65.00
5/20/2026, 11:01:01 PM
2026-08-21
$65.00
5/20/2026, 11:01:01 PM
2026-09-18
$47.00
5/20/2026, 11:01:01 PM
2026-10-16
$55.00
5/20/2026, 11:01:01 PM
2026-12-18
$47.00
5/20/2026, 11:01:01 PM
2027-01-15
$45.00
5/20/2026, 11:01:01 PM
2027-03-19
$60.00
5/20/2026, 11:01:01 PM
Selected expiration: 2026-05-22 at max pain $64.00.
AA pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
21796300
21796300
40
0
17518300
17518300
45
0
13241300
13241300
49
400
9861700
9862100
50
500
9017100
9017600
51
1000
8194500
8195500
52
1500
7373600
7375100
53
2000
6553600
6555600
54
2500
5735900
5738400
55
3400
4919500
4922900
56
5100
4170600
4175700
57
8300
3535800
3544100
58
11900
2923800
2935700
59
16200
2346600
2362800
60
20900
1818700
1839600
61
27200
1381600
1408800
62
35600
985800
1021400
63
257000
640400
897400
64
522500
373900
896400
65
1541300
159700
1701000
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.