This page reflects APPF 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 — APPF
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $155.00 (8.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$155.00
Nearest expiry
Expected Move
±$8.45
±5.2%
Days to Expiry
29
Calendar days
Total Call OI
149
Nearest expiry
Total Put OI
96
Nearest expiry
P/C OI Ratio
0.64
Put-heavy
Spot Price
$163.39
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
$160.00
4/17/2026, 11:03:25 PM
2026-05-15
$165.00
5/15/2026, 11:02:49 PM
2026-06-18NextUpdated
$155.00
5/20/2026, 11:03:27 PM
2026-07-17
$170.00
5/20/2026, 11:03:27 PM
2026-10-16
$155.00
5/20/2026, 11:03:27 PM
2027-01-15
$80.00
5/20/2026, 11:03:27 PM
Selected expiration: 2026-06-18 at max pain $155.00.
APPF pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
411500
411500
100
500
363500
364000
110
1500
268500
270000
115
2000
221500
223500
120
2500
184500
187000
125
3000
148500
151500
130
3500
116000
119500
135
4500
84000
88500
140
5500
60000
65500
145
6500
40000
46500
150
10000
22500
32500
155
14000
11000
25000
160
20000
7000
27000
165
27000
5000
32000
170
91500
3000
94500
175
157000
1000
158000
180
223000
0
223000
185
290000
0
290000
190
358000
0
358000
195
427500
0
427500
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.