This page reflects AG 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 — AG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $22.00 (2.06 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$1.02
±5.1%
Days to Expiry
2
Calendar days
Total Call OI
27,413
Nearest expiry
Total Put OI
20,793
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$19.94
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
$20.00
5/8/2026, 11:02:13 PM
2026-05-15
$22.50
5/15/2026, 11:01:51 PM
2026-05-22NextUpdated
$22.00
5/20/2026, 11:02:02 PM
2026-05-29
$20.50
5/20/2026, 11:02:02 PM
2026-06-05
$20.50
5/20/2026, 11:02:02 PM
2026-06-12
$21.50
5/20/2026, 11:02:02 PM
2026-06-18
$20.00
5/20/2026, 11:02:02 PM
2026-06-26
$21.00
5/20/2026, 11:02:02 PM
2026-07-17
$20.00
5/20/2026, 11:02:02 PM
2026-08-21
$23.00
5/20/2026, 11:02:02 PM
2026-10-16
$19.00
5/20/2026, 11:02:02 PM
2026-12-18
$15.00
5/20/2026, 11:02:02 PM
2027-01-15
$15.00
5/20/2026, 11:02:02 PM
2027-03-19
$15.00
5/20/2026, 11:02:02 PM
Selected expiration: 2026-05-22 at max pain $22.00.
AG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
18943100
18943100
13
0
16863800
16863800
14
0
14784500
14784500
15
0
12712900
12712900
16
2100
10652200
10654300
16.5
6150
9625550
9631700
17
10350
8602450
8612800
17.5
15750
7582900
7598650
18
21900
6587350
6609250
18.5
28600
5616250
5644850
19
36500
4662650
4699150
19.5
59250
3752150
3811400
20
94800
2926700
3021500
20.5
184850
2241450
2426300
21
416600
1673650
2090250
21.5
724350
1133100
1857450
22
1074300
610100
1684400
22.5
1530150
371300
1901450
23
2025100
156950
2182050
23.5
2628950
107050
2736000
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.