This page reflects BMO 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 — BMO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $145.00 (12.81 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$145.00
Nearest expiry
Expected Move
±$8.60
±5.5%
Days to Expiry
29
Calendar days
Total Call OI
1,105
Nearest expiry
Total Put OI
3,556
Nearest expiry
P/C OI Ratio
3.22
Put-heavy
Spot Price
$157.81
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
$140.00
4/17/2026, 11:06:31 PM
2026-05-15
$150.00
5/15/2026, 11:06:12 PM
2026-06-18NextUpdated
$145.00
5/20/2026, 11:05:53 PM
2026-07-17
$160.00
5/20/2026, 11:05:53 PM
2026-09-18
$150.00
5/20/2026, 11:05:53 PM
2026-11-20
$140.00
5/20/2026, 11:05:53 PM
2026-12-18
$125.00
5/20/2026, 11:05:53 PM
2027-01-15
$130.00
5/20/2026, 11:05:53 PM
Selected expiration: 2026-06-18 at max pain $145.00.
BMO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
22435000
22435000
85
0
15323000
15323000
90
0
13545000
13545000
95
0
11767000
11767000
100
0
9992000
9992000
105
0
8217000
8217000
110
0
6442000
6442000
115
0
4667000
4667000
120
0
3519500
3519500
125
0
2537000
2537000
130
500
1657500
1658000
135
36000
1071500
1107500
140
116500
591000
707500
145
226500
316500
543000
150
442500
128000
570500
155
757000
63000
820000
160
1171500
6000
1177500
165
1697500
0
1697500
170
2245500
0
2245500
175
2797500
0
2797500
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.