This page reflects ADI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — ADI
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $420.00 (5.69 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$420.00
Nearest expiry
Expected Move
±$30.50
±7.4%
Days to Expiry
3
Calendar days
Total Call OI
10,603
Nearest expiry
Total Put OI
12,886
Nearest expiry
P/C OI Ratio
1.22
Put-heavy
Spot Price
$414.31
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
$400.00
5/8/2026, 11:01:46 PM
2026-05-15
$395.00
5/15/2026, 11:02:11 PM
2026-05-22NextUpdated
$420.00
5/19/2026, 11:02:07 PM
2026-05-29
$395.00
5/19/2026, 11:02:07 PM
2026-06-05
$405.00
5/19/2026, 11:02:07 PM
2026-06-12
$420.00
5/19/2026, 11:02:07 PM
2026-06-18
$320.00
5/19/2026, 11:02:07 PM
2026-06-26
$420.00
5/19/2026, 11:02:07 PM
2026-07-17
$370.00
5/19/2026, 11:02:07 PM
2026-09-18
$310.00
5/19/2026, 11:02:07 PM
2026-12-18
$350.00
5/19/2026, 11:02:07 PM
2027-01-15
$340.00
5/19/2026, 11:02:07 PM
2027-03-19
$440.00
5/19/2026, 11:02:07 PM
Selected expiration: 2026-05-22 at max pain $420.00.
ADI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
195
0
243268000
243268000
200
1000
236825000
236826000
215
7000
217496000
217503000
220
9500
211053000
211062500
225
12500
204610000
204622500
245
26500
178838000
178864500
255
34500
165952000
165986500
265
42500
153068000
153110500
270
47000
146626500
146673500
275
51500
140311000
140362500
280
56500
133996500
134053000
285
62500
127682500
127745000
290
68500
121498500
121567000
295
74500
115323500
115398000
300
81500
109150000
109231500
310
99500
96838000
96937500
315
109500
90700500
90810000
320
120500
84566500
84687000
325
132500
78468000
78600500
330
144500
72384000
72528500
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.