This page reflects ARW 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 — ARW
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $135.00 (79.45 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$19.45
±9.1%
Days to Expiry
29
Calendar days
Total Call OI
1,299
Nearest expiry
Total Put OI
137
Nearest expiry
P/C OI Ratio
0.11
Put-heavy
Spot Price
$214.45
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
$140.00
4/17/2026, 11:04:05 PM
2026-05-15
$160.00
5/15/2026, 11:03:14 PM
2026-06-18NextUpdated
$135.00
5/20/2026, 11:05:08 PM
2026-07-17
$200.00
5/20/2026, 11:05:08 PM
2026-09-18
$135.00
5/20/2026, 11:05:08 PM
2026-12-18
$210.00
5/20/2026, 11:05:08 PM
Selected expiration: 2026-06-18 at max pain $135.00.
ARW pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
956500
956500
75
0
888500
888500
80
0
821500
821500
85
0
756000
756000
90
0
695500
695500
95
0
635000
635000
100
0
588500
588500
105
500
543000
543500
110
2000
499000
501000
115
4000
456500
460500
120
6000
414000
420000
125
9500
371500
381000
130
19000
331000
350000
135
30000
300500
330500
140
107000
270500
377500
145
184000
241000
425000
150
271000
211500
482500
155
374500
182000
556500
160
483000
152500
635500
165
607500
124000
731500
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.