This page reflects BOKF 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 — BOKF
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $120.00 (9.94 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$8.25
±6.3%
Days to Expiry
29
Calendar days
Total Call OI
68
Nearest expiry
Total Put OI
19
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$129.94
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
$120.00
4/17/2026, 11:06:51 PM
2026-05-15
$130.00
5/15/2026, 11:08:00 PM
2026-06-18NextUpdated
$120.00
5/20/2026, 11:06:13 PM
2026-09-18
$115.00
5/20/2026, 11:06:13 PM
2026-12-18
$130.00
5/20/2026, 11:06:13 PM
Selected expiration: 2026-06-18 at max pain $120.00.
BOKF pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
37000
37000
100
0
11500
11500
110
0
6500
6500
115
1000
4000
5000
120
2500
1500
4000
125
4000
500
4500
130
9000
0
9000
135
14500
0
14500
140
26000
0
26000
145
37500
0
37500
160
136500
0
136500
165
170000
0
170000
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.