This page reflects BCS 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 — BCS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $22.00 (1.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$2.00
±8.4%
Days to Expiry
29
Calendar days
Total Call OI
18,023
Nearest expiry
Total Put OI
19,830
Nearest expiry
P/C OI Ratio
1.10
Put-heavy
Spot Price
$23.87
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
$21.00
4/17/2026, 11:05:38 PM
2026-05-15
$23.00
5/15/2026, 11:07:01 PM
2026-06-18NextUpdated
$22.00
5/20/2026, 11:03:23 PM
2026-07-17
$24.00
5/20/2026, 11:03:23 PM
2026-09-18
$23.00
5/20/2026, 11:03:23 PM
2026-10-16
$23.00
5/20/2026, 11:03:23 PM
2026-12-18
$24.00
5/20/2026, 11:03:23 PM
2027-01-15
$15.00
5/20/2026, 11:03:23 PM
Selected expiration: 2026-06-18 at max pain $22.00.
BCS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
22459400
22459400
12
0
18520000
18520000
13
200
16550300
16550500
14
1400
14582100
14583500
15
2600
12613900
12616500
16
3800
10649400
10653200
17
14400
8720300
8734700
18
25100
6793400
6818500
19
42800
4901200
4944000
20
62300
3009000
3071300
21
269500
1450800
1720300
22
499000
898600
1397600
23
838500
589500
1428000
24
1284700
325300
1610000
25
1887000
132500
2019500
26
3527400
7000
3534400
27
5214800
1700
5216500
28
6918700
0
6918700
29
8640800
0
8640800
30
10399600
0
10399600
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.