This page reflects BZH 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 — BZH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $22.00 (0.65 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$1.92
±8.5%
Days to Expiry
29
Calendar days
Total Call OI
826
Nearest expiry
Total Put OI
2,665
Nearest expiry
P/C OI Ratio
3.23
Put-heavy
Spot Price
$22.65
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
$21.00
4/17/2026, 11:02:01 PM
2026-05-15
$23.00
5/15/2026, 11:09:03 PM
2026-06-18NextUpdated
$22.00
5/20/2026, 11:04:19 PM
2026-07-17
$24.00
5/20/2026, 11:04:19 PM
2026-08-21
$22.00
5/20/2026, 11:04:19 PM
2026-11-20
$20.00
5/20/2026, 11:04:19 PM
2026-12-18
$27.00
5/20/2026, 11:04:19 PM
Selected expiration: 2026-06-18 at max pain $22.00.
BZH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
14
0
1797000
1797000
15
0
1530700
1530700
16
0
1271400
1271400
17
0
1014900
1014900
18
600
764100
764700
19
3700
525100
528800
20
9400
289600
299000
21
17700
66800
84500
22
27600
15300
42900
23
42200
4400
46600
24
63800
1200
65000
25
125000
0
125000
26
188100
0
188100
27
257000
0
257000
28
335000
0
335000
29
413300
0
413300
30
495600
0
495600
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.