British American Tobacco IndusClose $65.30EOD only
Max Pain
$55.00
Next expiry Jun 18, 2026
Expected Move
±$3.85
5.9% from close
Price Gap
-10.30
Distance to max pain
IV Rank
58
Middle-high premium
P/C OI
0.41
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects BTI 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 — BTI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $55.00 (10.30 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
±$3.85
±5.9%
Days to Expiry
29
Calendar days
Total Call OI
23,681
Nearest expiry
Total Put OI
8,125
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$65.30
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, 11:07:06 PM
2026-05-15
$55.00
5/15/2026, 11:08:16 PM
2026-06-18NextUpdated
$55.00
5/20/2026, 11:08:50 PM
2026-07-17
$65.00
5/20/2026, 11:08:50 PM
2026-09-18
$55.00
5/20/2026, 11:08:50 PM
2026-12-18
$47.00
5/20/2026, 11:08:50 PM
2027-01-15
$50.00
5/20/2026, 11:08:50 PM
2027-03-19
$55.00
5/20/2026, 11:08:50 PM
Selected expiration: 2026-06-18 at max pain $55.00.
BTI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
23
0
22805400
22805400
25
16600
21180400
21197000
28
74800
18743800
18818600
30
124400
17119400
17243800
33
201800
14682800
14884600
35
254800
13136000
13390800
38
334900
10865600
11200500
40
388500
9406600
9795100
42
443500
8050800
8494300
45
526000
6119700
6645700
47
585000
4910500
5495500
50
785400
3310000
4095400
55
1887400
1227500
3114900
60
4810400
317500
5127900
65
10141900
4500
10146400
70
17377900
1000
17378900
75
27412400
0
27412400
80
38326400
0
38326400
85
49288400
0
49288400
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.