This page reflects ALV 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 — ALV
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $115.00 (2.86 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$7.47
±6.3%
Days to Expiry
29
Calendar days
Total Call OI
726
Nearest expiry
Total Put OI
571
Nearest expiry
P/C OI Ratio
0.79
Put-heavy
Spot Price
$117.86
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
$105.00
4/17/2026, 11:02:44 PM
2026-05-15
$115.00
5/15/2026, 11:03:20 PM
2026-06-18NextUpdated
$115.00
5/20/2026, 11:01:55 PM
2026-07-17
$105.00
5/20/2026, 11:01:55 PM
2026-09-18
$115.00
5/20/2026, 11:01:55 PM
2026-11-20
$130.00
5/20/2026, 11:01:55 PM
2026-12-18
$120.00
5/20/2026, 11:01:55 PM
Selected expiration: 2026-06-18 at max pain $115.00.
ALV pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
2522000
2522000
80
0
1670000
1670000
85
500
1386500
1387000
90
1000
1104000
1105000
95
2000
821500
823500
100
3000
544500
547500
105
4000
276000
280000
110
9500
16000
25500
115
16500
6000
22500
120
28000
1000
29000
125
90000
500
90500
130
375500
0
375500
135
693500
0
693500
140
1040000
0
1040000
145
1402500
0
1402500
160
2490000
0
2490000
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.