This page reflects APPS 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 — APPS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $4.00 (0.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$1.18
±25.8%
Days to Expiry
29
Calendar days
Total Call OI
11,714
Nearest expiry
Total Put OI
5,353
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$4.55
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
$3.00
4/17/2026, 11:04:35 PM
2026-05-15
$3.50
5/15/2026, 11:05:00 PM
2026-06-18NextUpdated
$4.00
5/20/2026, 11:04:38 PM
2026-07-17
$4.50
5/20/2026, 11:04:38 PM
2026-09-18
$4.50
5/20/2026, 11:04:38 PM
2026-12-18
$3.50
5/20/2026, 11:04:38 PM
2027-01-15
$3.00
5/20/2026, 11:04:38 PM
Selected expiration: 2026-06-18 at max pain $4.00.
APPS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
1869700
1869700
1
0
1602100
1602100
1.5
0
1334550
1334550
2
1050
1067900
1068950
2.5
4300
801800
806100
3
10350
540500
550850
3.5
35350
313000
348350
4
80050
172600
252650
4.5
245750
99650
345400
5
487200
43500
530700
5.5
800000
9750
809750
6
1134600
6700
1141300
7
1949900
600
1950500
8
2898700
400
2899100
9
3968800
200
3969000
10
5038900
0
5038900
11
6180900
0
6180900
12
7336900
0
7336900
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.