This page reflects AME 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 — AME
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $220.00 (4.71 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$14.10
±6.3%
Days to Expiry
29
Calendar days
Total Call OI
3,969
Nearest expiry
Total Put OI
1,745
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$224.71
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
$220.00
4/17/2026, 11:02:49 PM
2026-05-15
$230.00
5/15/2026, 11:02:56 PM
2026-06-18NextUpdated
$220.00
5/20/2026, 11:03:10 PM
2026-07-17
$180.00
5/20/2026, 11:03:10 PM
2026-08-21
$220.00
5/20/2026, 11:03:10 PM
2026-09-18
$220.00
5/20/2026, 11:03:10 PM
2026-11-20
$190.00
5/20/2026, 11:03:10 PM
2026-12-18
$200.00
5/20/2026, 11:03:10 PM
Selected expiration: 2026-06-18 at max pain $220.00.
AME pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
20653000
20653000
125
0
16295500
16295500
130
500
15424000
15424500
140
10500
13681000
13691500
145
15500
12810000
12825500
150
20500
11939500
11960000
165
35500
9332500
9368000
170
40500
8470500
8511000
175
45500
7620500
7666000
180
50500
6771000
6821500
185
59000
5923500
5982500
190
68000
5077500
5145500
195
77000
4233500
4310500
200
94500
3401000
3495500
210
169500
1773000
1942500
220
638500
169000
807500
230
2018500
32000
2050500
240
4043500
0
4043500
250
7132500
0
7132500
260
10526500
0
10526500
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.