This page reflects BBW 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 — BBW
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $50.00 (13.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$6.55
±17.9%
Days to Expiry
29
Calendar days
Total Call OI
1,133
Nearest expiry
Total Put OI
3,372
Nearest expiry
P/C OI Ratio
2.98
Put-heavy
Spot Price
$36.50
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
$37.50
4/17/2026, 11:04:27 PM
2026-05-15
$37.50
5/15/2026, 11:05:14 PM
2026-06-18NextUpdated
$50.00
5/20/2026, 11:07:05 PM
2026-07-17
$22.50
5/20/2026, 11:07:05 PM
2026-09-18
$42.50
5/20/2026, 11:07:05 PM
2026-12-18
$32.50
5/20/2026, 11:07:05 PM
Selected expiration: 2026-06-18 at max pain $50.00.
BBW pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
7730500
7730500
22.5
500
6888500
6889000
25
2000
6049000
6051000
27.5
3750
5213250
5217000
30
5750
4383750
4389500
32.5
8000
3572750
3580750
35
10250
2775500
2785750
37.5
15250
2015000
2030250
40
38250
1281750
1320000
42.5
85250
944500
1029750
45
144000
610250
754250
47.5
228500
326000
554500
50
316250
41750
358000
52.5
427750
30750
458500
55
544500
24250
568750
57.5
724750
19750
744500
60
916000
15250
931250
62.5
1117250
11250
1128500
65
1320250
7250
1327500
67.5
1553000
3250
1556250
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.