This page reflects AR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — AR
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $37.00 (0.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.00
Nearest expiry
Expected Move
±$0.83
±2.2%
Days to Expiry
1
Calendar days
Total Call OI
1,605
Nearest expiry
Total Put OI
45,609
Nearest expiry
P/C OI Ratio
28.42
Put-heavy
Spot Price
$37.04
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$37.00
5/8/2026, 11:04:31 PM
2026-05-15
$37.00
5/15/2026, 11:03:04 PM
2026-05-22NextUpdated
$37.00
5/21/2026, 11:04:16 PM
2026-05-29
$37.50
5/21/2026, 11:04:16 PM
2026-06-05
$37.00
5/21/2026, 11:04:16 PM
2026-06-12
$36.00
5/21/2026, 11:04:16 PM
2026-06-18
$37.00
5/21/2026, 11:04:16 PM
2026-06-26
$37.00
5/21/2026, 11:04:16 PM
2026-07-17
$38.00
5/21/2026, 11:04:16 PM
2026-08-21
$39.00
5/21/2026, 11:04:16 PM
2026-09-18
$37.00
5/21/2026, 11:04:16 PM
2026-11-20
$38.00
5/21/2026, 11:04:16 PM
2027-01-15
$35.00
5/21/2026, 11:04:16 PM
Selected expiration: 2026-05-22 at max pain $37.00.
AR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
25076800
25076800
30
500
2272300
2272800
31
600
729500
730100
32
700
587500
588200
32.5
950
518650
519600
33
1250
449800
451050
33.5
1900
382100
384000
34
2600
315850
318450
34.5
3300
254000
257300
35
4000
199400
203400
35.5
20300
150400
170700
36
38600
107250
145850
36.5
58350
74600
132950
37
81700
48150
129850
37.5
107300
32450
139750
38
137050
19050
156100
38.5
168900
12800
181700
39
205650
6900
212550
39.5
250750
4300
255050
40
298600
1900
300500
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.