This page reflects APH 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 — APH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $130.00 (6.95 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$13.70
±11.1%
Days to Expiry
29
Calendar days
Total Call OI
27,305
Nearest expiry
Total Put OI
33,411
Nearest expiry
P/C OI Ratio
1.22
Put-heavy
Spot Price
$123.05
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
$135.00
4/17/2026, 11:04:31 PM
2026-05-15
$140.00
5/15/2026, 11:03:42 PM
2026-06-18NextUpdated
$130.00
5/20/2026, 11:02:54 PM
2026-07-17
$135.00
5/20/2026, 11:02:54 PM
2026-08-21
$130.00
5/20/2026, 11:02:54 PM
2026-09-18
$125.00
5/20/2026, 11:02:54 PM
2026-10-16
$135.00
5/20/2026, 11:02:54 PM
2026-11-20
$130.00
5/20/2026, 11:02:54 PM
2026-12-18
$130.00
5/20/2026, 11:02:54 PM
2027-01-15
$115.00
5/20/2026, 11:02:54 PM
2027-03-19
$120.00
5/20/2026, 11:02:54 PM
Selected expiration: 2026-06-18 at max pain $130.00.
APH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
257084000
257084000
45
1500
240379000
240380500
50
3000
223674500
223677500
55
4500
206970500
206975000
60
6000
190267000
190273000
65
18500
173570000
173588500
70
36000
156879000
156915000
75
67000
140206500
140273500
80
116000
123556500
123672500
85
210500
106930500
107141000
90
363500
90323500
90687000
95
541500
73912500
74454000
100
797500
57987000
58784500
105
1140000
42472000
43612000
110
1550000
28090000
29640000
115
2187500
14495000
16682500
120
2877000
8815000
11692000
125
3728500
4932000
8660500
130
5063500
3182000
8245500
135
7671500
2044500
9716000
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.