This page reflects BRO 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 — BRO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $55.00 (2.43 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$4.62
±8.1%
Days to Expiry
29
Calendar days
Total Call OI
2,526
Nearest expiry
Total Put OI
1,218
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$57.43
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
$70.00
4/17/2026, 11:02:25 PM
2026-05-15
$55.00
5/15/2026, 11:06:13 PM
2026-06-18NextUpdated
$55.00
5/20/2026, 11:06:26 PM
2026-07-17
$60.00
5/20/2026, 11:06:26 PM
2026-09-18
$65.00
5/20/2026, 11:06:26 PM
2026-12-18
$60.00
5/20/2026, 11:06:26 PM
Selected expiration: 2026-06-18 at max pain $55.00.
BRO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
2647000
2647000
40
500
2039000
2039500
45
1500
1442500
1444000
50
3000
864500
867500
55
8500
424500
433000
60
581000
209000
790000
65
1266500
73000
1339500
70
2071500
52500
2124000
75
2963000
39000
3002000
80
3892500
27500
3920000
85
4859000
18000
4877000
90
5873000
9000
5882000
95
7111000
0
7111000
100
8349000
0
8349000
105
9603500
0
9603500
110
10861500
0
10861500
115
12119500
0
12119500
120
13382000
0
13382000
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.