This page reflects BILL 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 — BILL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $39.00 (0.66 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$39.00
Nearest expiry
Expected Move
±$1.60
±4.2%
Days to Expiry
2
Calendar days
Total Call OI
3,158
Nearest expiry
Total Put OI
4,587
Nearest expiry
P/C OI Ratio
1.45
Put-heavy
Spot Price
$38.34
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$38.00
5/8/2026, 11:05:00 PM
2026-05-15
$40.00
5/15/2026, 11:07:02 PM
2026-05-22NextUpdated
$39.00
5/20/2026, 11:05:41 PM
2026-05-29
$39.00
5/20/2026, 11:05:41 PM
2026-06-05
$40.00
5/20/2026, 11:05:41 PM
2026-06-12
$44.00
5/20/2026, 11:05:41 PM
2026-06-18
$40.00
5/20/2026, 11:05:41 PM
2026-06-26
$36.00
5/20/2026, 11:05:41 PM
2026-07-17
$35.00
5/20/2026, 11:05:41 PM
2026-08-21
$42.50
5/20/2026, 11:05:41 PM
2026-11-20
$37.50
5/20/2026, 11:05:41 PM
2027-01-15
$40.00
5/20/2026, 11:05:41 PM
Selected expiration: 2026-05-22 at max pain $39.00.
BILL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
23
0
6780300
6780300
25
0
5863300
5863300
29
0
4034100
4034100
30
0
3577300
3577300
30.5
1150
3349150
3350300
32
4600
2665000
2669600
32.5
5950
2437200
2443150
33
7400
2209500
2216900
34
10700
1764600
1775300
35
64200
1319700
1383900
35.5
102000
1098050
1200050
36
139800
877750
1017550
37
215800
470750
686550
37.5
255250
297500
552750
38
297450
232850
530300
38.5
342950
183700
526650
39
388950
135500
524450
39.5
443850
88550
532400
40
500700
41750
542450
40.5
562800
33500
596300
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.