This page reflects AI 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 — AI
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $9.00 (0.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$0.46
±5.0%
Days to Expiry
2
Calendar days
Total Call OI
46,074
Nearest expiry
Total Put OI
4,611
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$9.28
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
$9.00
5/8/2026, 11:02:20 PM
2026-05-15
$9.00
5/15/2026, 11:02:12 PM
2026-05-22NextUpdated
$9.00
5/20/2026, 11:03:09 PM
2026-05-29
$9.00
5/20/2026, 11:03:09 PM
2026-06-05
$9.00
5/20/2026, 11:03:09 PM
2026-06-12
$9.00
5/20/2026, 11:03:09 PM
2026-06-18
$10.00
5/20/2026, 11:03:09 PM
2026-06-26
$8.50
5/20/2026, 11:03:09 PM
2026-07-17
$12.50
5/20/2026, 11:03:09 PM
2026-09-18
$10.00
5/20/2026, 11:03:09 PM
2026-10-16
$10.00
5/20/2026, 11:03:09 PM
2026-12-18
$10.00
5/20/2026, 11:03:09 PM
2027-01-15
$15.00
5/20/2026, 11:03:09 PM
2027-03-19
$12.50
5/20/2026, 11:03:09 PM
Selected expiration: 2026-05-22 at max pain $9.00.
AI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
1891850
1891850
4.5
550
1661300
1661850
5
1300
1430750
1432050
5.5
2250
1213100
1215350
6
3300
996050
999350
6.5
5950
779000
784950
7
8700
572450
581150
7.5
11700
368850
380550
8
14950
179800
194750
8.5
20400
94100
114500
9
34850
50650
85500
9.5
958550
26650
985200
10
2267550
18850
2286400
10.5
3714650
15200
3729850
11
5799850
11650
5811500
11.5
8005650
8450
8014100
12
10222250
6300
10228550
12.5
12459000
4300
12463300
13
14715850
2550
14718400
13.5
16981250
850
16982100
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.