This page reflects BHP 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 — BHP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $72.50 (11.05 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$72.50
Nearest expiry
Expected Move
±$7.17
±8.6%
Days to Expiry
29
Calendar days
Total Call OI
25,449
Nearest expiry
Total Put OI
24,673
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$83.55
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
$72.50
4/17/2026, 11:04:53 PM
2026-05-15
$70.00
5/15/2026, 11:05:57 PM
2026-06-18NextUpdated
$72.50
5/20/2026, 11:05:23 PM
2026-07-17
$82.50
5/20/2026, 11:05:23 PM
2026-08-21
$80.00
5/20/2026, 11:05:23 PM
2026-09-18
$70.00
5/20/2026, 11:05:23 PM
2026-11-20
$75.00
5/20/2026, 11:05:23 PM
2026-12-18
$62.50
5/20/2026, 11:05:23 PM
2027-01-15
$57.50
5/20/2026, 11:05:23 PM
2027-03-19
$62.50
5/20/2026, 11:05:23 PM
Selected expiration: 2026-06-18 at max pain $72.50.
BHP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
97851500
97851500
27.5
0
91689500
91689500
30
250
85528500
85528750
32.5
1500
79367500
79369000
35
2750
73206500
73209250
37.5
4000
67045500
67049500
40
5250
61177500
61182750
42.5
6500
55335000
55341500
45
7750
49492500
49500250
47.5
10750
44034250
44045000
50
15000
38605250
38620250
52.5
28000
33227750
33255750
55
41000
27919750
27960750
57.5
61250
23217250
23278500
60
290000
18674000
18964000
62.5
612000
14807500
15419500
65
1066250
11288750
12355000
67.5
1851000
8642750
10493750
70
2743500
6278750
9022250
72.5
4222750
4249250
8472000
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.