This page reflects ASPI 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 — ASPI
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $5.50 (0.24 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.50
Nearest expiry
Expected Move
±$0.58
±10.9%
Days to Expiry
2
Calendar days
Total Call OI
7,970
Nearest expiry
Total Put OI
2,629
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$5.26
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
$5.50
5/8/2026, 11:03:07 PM
2026-05-15
$5.00
5/15/2026, 11:05:49 PM
2026-05-22NextUpdated
$5.50
5/20/2026, 11:04:26 PM
2026-05-29
$5.50
5/20/2026, 11:04:26 PM
2026-06-05
$6.00
5/20/2026, 11:04:26 PM
2026-06-12
$5.50
5/20/2026, 11:04:26 PM
2026-06-18
$7.00
5/20/2026, 11:04:26 PM
2026-06-26
$6.00
5/20/2026, 11:04:26 PM
2026-07-17
$6.00
5/20/2026, 11:04:26 PM
2026-10-16
$5.00
5/20/2026, 11:04:26 PM
2027-01-15
$5.00
5/20/2026, 11:04:26 PM
Selected expiration: 2026-05-22 at max pain $5.50.
ASPI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
1281200
1281200
1
350
1149950
1150300
1.5
1150
1019700
1020850
2
2050
889450
891500
2.5
3450
759200
762650
3
5000
628950
633950
3.5
7650
499000
506650
4
10450
369350
379800
4.5
13450
241600
255050
5
17000
123750
140750
5.5
31750
32550
64300
6
140650
11350
152000
6.5
307500
6900
314400
7
548550
3750
552300
7.5
862450
2300
864750
8
1220250
1500
1221750
8.5
1604600
900
1605500
9
1990800
500
1991300
9.5
2380250
250
2380500
10
2769700
100
2769800
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.