This page reflects BKR 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 — BKR
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (6.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$5.90
±8.8%
Days to Expiry
29
Calendar days
Total Call OI
18,380
Nearest expiry
Total Put OI
14,311
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$66.79
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
$55.00
4/17/2026, 11:05:02 PM
2026-05-15
$65.00
5/15/2026, 11:07:07 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:05:41 PM
2026-07-17
$60.00
5/20/2026, 11:05:41 PM
2026-09-18
$60.00
5/20/2026, 11:05:41 PM
2026-10-16
$65.00
5/20/2026, 11:05:41 PM
2026-12-18
$50.00
5/20/2026, 11:05:41 PM
2027-01-15
$50.00
5/20/2026, 11:05:41 PM
2027-03-19
$60.00
5/20/2026, 11:05:41 PM
Selected expiration: 2026-06-18 at max pain $60.00.
BKR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
43943300
43943300
23
0
39650900
39650900
25
200
36794300
36794500
28
500
32520800
32521300
30
2300
29674400
29676700
33
5000
25417100
25422100
35
6800
22586700
22593500
38
19400
18363300
18382700
40
35200
16296300
16331500
42
51000
14571900
14622900
45
105600
11985300
12090900
47
197400
10310900
10508300
50
578700
7902500
8481200
55
1685700
4321500
6007200
60
4027200
1823500
5850700
65
6834700
728500
7563200
70
10776700
17000
10793700
75
18255200
0
18255200
80
27309700
0
27309700
85
36453700
0
36453700
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.