This page reflects AFL 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 — AFL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $118.00 (0.78 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$118.00
Nearest expiry
Expected Move
±$1.68
±1.4%
Days to Expiry
2
Calendar days
Total Call OI
1,780
Nearest expiry
Total Put OI
748
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$117.22
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
$106.00
5/8/2026, 11:02:06 PM
2026-05-15
$114.00
5/15/2026, 11:01:47 PM
2026-05-22NextUpdated
$118.00
5/20/2026, 11:01:36 PM
2026-05-29
$117.00
5/20/2026, 11:01:36 PM
2026-06-05
$115.00
5/20/2026, 11:01:36 PM
2026-06-12
$116.00
5/20/2026, 11:01:36 PM
2026-06-18
$115.00
5/20/2026, 11:01:36 PM
2026-07-17
$115.00
5/20/2026, 11:01:36 PM
2026-08-21
$110.00
5/20/2026, 11:01:36 PM
2026-09-18
$110.00
5/20/2026, 11:01:36 PM
2026-11-20
$110.00
5/20/2026, 11:01:36 PM
2026-12-18
$115.00
5/20/2026, 11:01:36 PM
2027-01-15
$110.00
5/20/2026, 11:01:36 PM
2027-03-19
$125.00
5/20/2026, 11:01:36 PM
Selected expiration: 2026-05-22 at max pain $118.00.
AFL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
3191600
3191600
80
0
2444600
2444600
85
0
2071600
2071600
90
0
1699100
1699100
93
0
1475900
1475900
94
0
1401500
1401500
95
100
1327100
1327200
96
200
1253100
1253300
97
300
1179200
1179500
98
400
1105400
1105800
99
500
1031900
1032400
100
600
958800
959400
101
700
886700
887400
102
800
814900
815700
103
900
743500
744400
104
1000
672300
673300
105
1100
601400
602500
106
1300
530800
532100
107
1500
460600
462100
108
1700
390600
392300
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.