This page reflects BGS 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 — BGS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $5.00 (0.91 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.40
±9.8%
Days to Expiry
29
Calendar days
Total Call OI
8,277
Nearest expiry
Total Put OI
2,149
Nearest expiry
P/C OI Ratio
0.26
Put-heavy
Spot Price
$4.09
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
$5.00
4/17/2026, 11:05:50 PM
2026-05-15
$4.00
5/15/2026, 11:06:17 PM
2026-06-18NextUpdated
$5.00
5/20/2026, 11:05:15 PM
2026-07-17
$5.00
5/20/2026, 11:05:15 PM
2026-08-21
$5.00
5/20/2026, 11:05:15 PM
2026-09-18
$5.00
5/20/2026, 11:05:15 PM
2026-11-20
$5.00
5/20/2026, 11:05:15 PM
2027-01-15
$5.00
5/20/2026, 11:05:15 PM
Selected expiration: 2026-06-18 at max pain $5.00.
BGS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
696200
696200
2
500
481500
482000
3
1000
267400
268400
4
4700
95200
99900
5
56600
31300
87900
6
172000
300
172300
7
862000
200
862200
8
1689700
100
1689800
9
2517400
0
2517400
10
3345100
0
3345100
11
4172800
0
4172800
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.