This page reflects AIP options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — AIP
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (5.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$7.03
±19.6%
Days to Expiry
28
Calendar days
Total Call OI
2,532
Nearest expiry
Total Put OI
360
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$35.90
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
$12.50
4/17/2026, 11:01:40 PM
2026-05-15
$25.00
5/15/2026, 11:02:37 PM
2026-06-18NextUpdated
$30.00
5/21/2026, 11:01:45 PM
2026-07-17
$17.50
5/21/2026, 11:01:45 PM
2026-10-16
$2.50
5/21/2026, 11:01:45 PM
2027-01-15
$5.00
5/21/2026, 11:01:45 PM
Selected expiration: 2026-06-18 at max pain $30.00.
AIP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
997750
997750
12.5
7000
643750
650750
17.5
10500
468250
478750
20
12250
381250
393500
22.5
14250
295750
310000
25
16250
214500
230750
30
143250
62000
205250
35
632250
8000
640250
40
1265750
0
1265750
45
2384750
0
2384750
50
3586750
0
3586750
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.