This page reflects ADEA 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 — ADEA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $25.00 (1.41 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$3.88
±14.7%
Days to Expiry
29
Calendar days
Total Call OI
9,354
Nearest expiry
Total Put OI
4,983
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$26.41
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$22.50
4/17/2026, 11:01:20 PM
2026-05-15
$30.00
5/15/2026, 11:01:57 PM
2026-06-18NextUpdated
$25.00
5/20/2026, 11:01:49 PM
2026-09-18
$25.00
5/20/2026, 11:01:49 PM
2026-11-20
$20.00
5/20/2026, 11:01:49 PM
2026-12-18
$22.50
5/20/2026, 11:01:49 PM
Selected expiration: 2026-06-18 at max pain $25.00.
ADEA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
10616500
10616500
5
7500
9370750
9378250
10
23000
6879250
6902250
12.5
36500
5633500
5670000
15
62250
4390750
4453000
17.5
91750
3148250
3240000
20
123750
1926250
2050000
22.5
161000
854750
1015750
25
302000
126000
428000
30
851000
24000
875000
35
2817000
0
2817000
40
6432500
0
6432500
45
10741000
0
10741000
50
15114500
0
15114500
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.