This page reflects BCO 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 — BCO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $110.00 (3.35 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$7.20
±6.8%
Days to Expiry
29
Calendar days
Total Call OI
1,006
Nearest expiry
Total Put OI
325
Nearest expiry
P/C OI Ratio
0.32
Put-heavy
Spot Price
$106.65
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
$105.00
4/17/2026, 11:05:30 PM
2026-05-15
$105.00
5/15/2026, 11:06:43 PM
2026-06-18NextUpdated
$110.00
5/20/2026, 11:03:29 PM
2026-09-18
$105.00
5/20/2026, 11:03:29 PM
2026-11-20
$110.00
5/20/2026, 11:03:29 PM
2026-12-18
$110.00
5/20/2026, 11:03:29 PM
2027-01-15
$80.00
5/20/2026, 11:03:29 PM
2027-03-19
$110.00
5/20/2026, 11:03:29 PM
Selected expiration: 2026-06-18 at max pain $110.00.
BCO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
1137000
1137000
65
0
980000
980000
70
0
873000
873000
75
1000
766000
767000
80
2000
661000
663000
85
3000
557000
560000
90
4000
461000
465000
95
5000
376000
381000
100
9500
291000
300500
105
20500
220000
240500
110
55500
154500
210000
115
145000
102000
247000
120
257000
51000
308000
125
528000
0
528000
130
899000
0
899000
140
1641000
0
1641000
145
2032000
0
2032000
150
2531500
0
2531500
160
3530500
0
3530500
165
4030500
0
4030500
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.