This page reflects ALC 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 — ALC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $72.50 (5.22 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$72.50
Nearest expiry
Expected Move
±$4.05
±6.0%
Days to Expiry
29
Calendar days
Total Call OI
1,571
Nearest expiry
Total Put OI
1,529
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$67.28
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
$77.50
4/17/2026, 11:02:53 PM
2026-05-15
$75.00
5/15/2026, 11:02:35 PM
2026-06-18NextUpdated
$72.50
5/20/2026, 11:03:12 PM
2026-07-17
$65.00
5/20/2026, 11:03:12 PM
2026-08-21
$70.00
5/20/2026, 11:03:12 PM
2026-11-20
$65.00
5/20/2026, 11:03:12 PM
2026-12-18
$82.50
5/20/2026, 11:03:12 PM
2027-01-15
$72.50
5/20/2026, 11:03:12 PM
Selected expiration: 2026-06-18 at max pain $72.50.
ALC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
3597500
3597500
42.5
0
3216000
3216000
45
0
2835250
2835250
47.5
0
2454750
2454750
50
0
2074250
2074250
55
0
1358750
1358750
57.5
0
1029500
1029500
60
0
700750
700750
62.5
5000
495250
500250
65
10500
297500
308000
67.5
31500
205500
237000
70
56500
126500
183000
72.5
104250
71750
176000
75
169750
56000
225750
77.5
290750
42000
332750
80
492000
28000
520000
82.5
711250
14000
725250
85
970500
0
970500
87.5
1312000
0
1312000
90
1666250
0
1666250
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.