This page reflects BDC 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 — BDC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $115.00 (9.49 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$5.30
±5.0%
Days to Expiry
29
Calendar days
Total Call OI
932
Nearest expiry
Total Put OI
118
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$105.51
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
$120.00
4/17/2026, 11:06:07 PM
2026-05-15
$110.00
5/15/2026, 11:06:45 PM
2026-06-18NextUpdated
$115.00
5/20/2026, 11:03:49 PM
2026-07-17
$110.00
5/20/2026, 11:03:49 PM
2026-09-18
$125.00
5/20/2026, 11:03:49 PM
2026-12-18
$105.00
5/20/2026, 11:03:49 PM
Selected expiration: 2026-06-18 at max pain $115.00.
BDC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
628000
628000
80
2000
392000
394000
95
5000
224000
229000
100
9000
172500
181500
105
18500
129000
147500
110
28000
94500
122500
115
38500
72000
110500
120
82500
51500
134000
125
156000
36000
192000
130
285500
21000
306500
135
471500
10500
482000
140
707500
0
707500
145
945000
0
945000
150
1268000
0
1268000
155
1728000
0
1728000
160
2194000
0
2194000
170
3126000
0
3126000
180
4058000
0
4058000
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.