This page reflects BG 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 — BG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $125.00 (5.05 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$125.00
Nearest expiry
Expected Move
±$8.85
±7.4%
Days to Expiry
29
Calendar days
Total Call OI
2,217
Nearest expiry
Total Put OI
1,214
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$119.95
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, 11:06:25 PM
2026-05-15
$120.00
5/15/2026, 11:05:45 PM
2026-06-18NextUpdated
$125.00
5/20/2026, 11:07:37 PM
2026-07-17
$120.00
5/20/2026, 11:07:37 PM
2026-10-16
$120.00
5/20/2026, 11:07:37 PM
2027-01-15
$100.00
5/20/2026, 11:07:37 PM
Selected expiration: 2026-06-18 at max pain $125.00.
BG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
4619500
4619500
90
0
3406500
3406500
95
0
2800500
2800500
100
0
2196500
2196500
105
0
1641000
1641000
110
0
1097000
1097000
115
1000
579500
580500
120
12000
134500
146500
125
51000
37500
88500
130
369000
3000
372000
135
931500
500
932000
140
1624000
0
1624000
145
2528000
0
2528000
150
3611500
0
3611500
155
4717500
0
4717500
180
10255000
0
10255000
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.