This page reflects BAX 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 — BAX
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $17.50 (1.27 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.50
Nearest expiry
Expected Move
±$0.12
±0.7%
Days to Expiry
2
Calendar days
Total Call OI
1,159
Nearest expiry
Total Put OI
3,020
Nearest expiry
P/C OI Ratio
2.61
Put-heavy
Spot Price
$18.77
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
$17.50
5/8/2026, 11:04:46 PM
2026-05-15
$18.00
5/15/2026, 11:06:52 PM
2026-05-22NextUpdated
$17.50
5/20/2026, 11:04:59 PM
2026-05-29
$17.50
5/20/2026, 11:04:59 PM
2026-06-05
$18.00
5/20/2026, 11:04:59 PM
2026-06-12
$17.00
5/20/2026, 11:04:59 PM
2026-06-18
$17.50
5/20/2026, 11:04:59 PM
2026-06-26
$18.00
5/20/2026, 11:04:59 PM
2026-07-17
$17.50
5/20/2026, 11:04:59 PM
2026-08-21
$20.00
5/20/2026, 11:04:59 PM
2026-09-18
$20.00
5/20/2026, 11:04:59 PM
2026-11-20
$17.50
5/20/2026, 11:04:59 PM
2026-12-18
$20.00
5/20/2026, 11:04:59 PM
2027-01-15
$20.00
5/20/2026, 11:04:59 PM
2027-03-19
$17.50
5/20/2026, 11:04:59 PM
Selected expiration: 2026-05-22 at max pain $17.50.
BAX pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
1513250
1513250
10
300
1211850
1212150
11
800
910550
911350
12
1300
609350
610650
12.5
3100
509000
512100
13
5100
431900
437000
13.5
7300
355100
362400
14
9650
278450
288100
14.5
12200
223350
235550
15
14800
174700
189500
15.5
17650
126900
144550
16
20600
84050
104650
16.5
23550
42800
66350
17
27050
20300
47350
17.5
32450
5750
38200
18
41450
3750
45200
18.5
68000
2850
70850
19
109800
2500
112300
19.5
159550
2150
161700
20
209600
1850
211450
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.