This page reflects BAP 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 — BAP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $320.00 (13.27 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$320.00
Nearest expiry
Expected Move
±$31.50
±9.4%
Days to Expiry
29
Calendar days
Total Call OI
545
Nearest expiry
Total Put OI
366
Nearest expiry
P/C OI Ratio
0.67
Put-heavy
Spot Price
$333.27
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
$340.00
4/17/2026, 11:05:57 PM
2026-05-15
$330.00
5/15/2026, 11:04:30 PM
2026-06-18NextUpdated
$320.00
5/20/2026, 11:04:45 PM
2026-07-17
$310.00
5/20/2026, 11:04:45 PM
2026-08-21
$330.00
5/20/2026, 11:04:45 PM
2026-11-20
$330.00
5/20/2026, 11:04:45 PM
Selected expiration: 2026-06-18 at max pain $320.00.
BAP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
230
0
3036000
3036000
240
0
2670000
2670000
250
0
2305000
2305000
260
0
1942000
1942000
270
0
1581000
1581000
280
0
1222000
1222000
290
0
875000
875000
300
0
559000
559000
310
4000
304000
308000
320
13000
114000
127000
330
199000
6000
205000
340
444000
3000
447000
350
690000
2000
692000
360
947000
1000
948000
370
1389000
0
1389000
380
1881000
0
1881000
390
2375000
0
2375000
400
2919000
0
2919000
440
5099000
0
5099000
490
7824000
0
7824000
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.