This page reflects BURL 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 — BURL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $292.50 (17.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$292.50
Nearest expiry
Expected Move
±$12.95
±4.2%
Days to Expiry
2
Calendar days
Total Call OI
669
Nearest expiry
Total Put OI
3,187
Nearest expiry
P/C OI Ratio
4.76
Put-heavy
Spot Price
$310.19
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$315.00
5/8/2026, 11:06:47 PM
2026-05-15
$297.50
5/15/2026, 11:08:12 PM
2026-05-22NextUpdated
$292.50
5/20/2026, 11:06:48 PM
2026-05-29
$305.00
5/20/2026, 11:06:48 PM
2026-06-05
$280.00
5/20/2026, 11:06:48 PM
2026-06-12
$285.00
5/20/2026, 11:06:48 PM
2026-06-18
$310.00
5/20/2026, 11:06:48 PM
2026-06-26
$300.00
5/20/2026, 11:06:48 PM
2026-07-17
$310.00
5/20/2026, 11:06:48 PM
2026-09-18
$310.00
5/20/2026, 11:06:48 PM
2026-12-18
$280.00
5/20/2026, 11:06:48 PM
2027-01-15
$280.00
5/20/2026, 11:06:48 PM
2027-03-19
$290.00
5/20/2026, 11:06:48 PM
Selected expiration: 2026-05-22 at max pain $292.50.
BURL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
230
0
15245500
15245500
240
0
12061500
12061500
245
0
10470500
10470500
255
0
7304500
7304500
260
0
5721500
5721500
265
500
4155000
4155500
270
1000
2987000
2988000
272.5
1250
2420750
2422000
275
1500
1864500
1866000
277.5
1750
1460000
1461750
280
2000
1074500
1076500
282.5
8250
755500
763750
285
16250
436750
453000
287.5
35250
320500
355750
290
57000
204750
261750
292.5
86750
164000
250750
295
128500
131000
259500
297.5
183000
104000
287000
300
237500
77500
315000
305
356500
39500
396000
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.