This page reflects BKKT 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 — BKKT
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $8.50 (1.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.50
Nearest expiry
Expected Move
±$0.90
±8.8%
Days to Expiry
2
Calendar days
Total Call OI
2,097
Nearest expiry
Total Put OI
177
Nearest expiry
P/C OI Ratio
0.08
Put-heavy
Spot Price
$10.18
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
$8.50
5/8/2026, 11:07:02 PM
2026-05-15
$7.00
5/15/2026, 11:07:19 PM
2026-05-22NextUpdated
$8.50
5/20/2026, 11:05:43 PM
2026-05-29
$9.00
5/20/2026, 11:05:43 PM
2026-06-05
$9.00
5/20/2026, 11:05:43 PM
2026-06-12
$8.00
5/20/2026, 11:05:43 PM
2026-06-18
$9.00
5/20/2026, 11:05:43 PM
2026-09-18
$8.00
5/20/2026, 11:05:43 PM
2026-12-18
$10.00
5/20/2026, 11:05:43 PM
2027-01-15
$8.00
5/20/2026, 11:05:43 PM
Selected expiration: 2026-05-22 at max pain $8.50.
BKKT pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
131750
131750
2
1100
114450
115550
3
2800
97350
100150
4
5000
80550
85550
5
7200
63850
71050
5.5
8750
55500
64250
6
10600
47150
57750
7
15000
30450
45450
7.5
17500
22400
39900
8
20150
14700
34850
8.5
24300
10000
34300
9
63300
5500
68800
9.5
113200
3100
116300
10
167400
1000
168400
10.5
232300
900
233200
11
311500
800
312300
11.5
401550
700
402250
12
500400
600
501000
12.5
602700
500
603200
13
705650
400
706050
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.