This page reflects AJG 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 — AJG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (3.61 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$15.25
±7.5%
Days to Expiry
29
Calendar days
Total Call OI
1,222
Nearest expiry
Total Put OI
542
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$203.61
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
$230.00
4/17/2026, 11:02:47 PM
2026-05-15
$210.00
5/15/2026, 11:02:04 PM
2026-06-18NextUpdated
$200.00
5/20/2026, 11:01:47 PM
2026-07-17
$230.00
5/20/2026, 11:01:47 PM
2026-08-21
$195.00
5/20/2026, 11:01:47 PM
2026-10-16
$210.00
5/20/2026, 11:01:47 PM
2026-12-18
$210.00
5/20/2026, 11:01:47 PM
2027-01-15
$210.00
5/20/2026, 11:01:47 PM
Selected expiration: 2026-06-18 at max pain $200.00.
AJG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
135
0
2910000
2910000
140
0
2640500
2640500
145
0
2372500
2372500
150
0
2104500
2104500
155
0
1837500
1837500
160
0
1571000
1571000
165
0
1356000
1356000
170
0
1141000
1141000
175
0
928500
928500
180
0
720500
720500
185
0
525500
525500
190
0
344500
344500
195
500
204500
205000
200
6000
145000
151000
210
187000
86000
273000
220
421000
41000
462000
230
853000
20000
873000
240
1640000
10000
1650000
250
2678000
0
2678000
260
3773000
0
3773000
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.