This page reflects CAG 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 — CAG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $14.00 (0.24 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$0.35
±2.5%
Days to Expiry
2
Calendar days
Total Call OI
8,152
Nearest expiry
Total Put OI
4,035
Nearest expiry
P/C OI Ratio
0.49
Put-heavy
Spot Price
$13.76
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
$14.00
5/8/2026, 11:06:45 PM
2026-05-15
$14.00
5/15/2026, 11:07:09 PM
2026-05-22NextUpdated
$14.00
5/20/2026, 11:06:17 PM
2026-05-29
$14.00
5/20/2026, 11:06:17 PM
2026-06-05
$14.00
5/20/2026, 11:06:17 PM
2026-06-12
$13.50
5/20/2026, 11:06:17 PM
2026-06-18
$14.00
5/20/2026, 11:06:17 PM
2026-06-26
$13.00
5/20/2026, 11:06:17 PM
2026-07-17
$14.00
5/20/2026, 11:06:17 PM
2026-09-18
$15.00
5/20/2026, 11:06:17 PM
2026-12-18
$15.00
5/20/2026, 11:06:17 PM
2027-01-15
$15.00
5/20/2026, 11:06:17 PM
Selected expiration: 2026-05-22 at max pain $14.00.
CAG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
1835250
1835250
9.5
650
1634450
1635100
10
1900
1434100
1436000
10.5
3200
1234000
1237200
11
4600
1034050
1038650
11.5
6100
834350
840450
12
7700
634800
642500
12.5
9650
436600
446250
13
11650
241150
252800
13.5
14000
76600
90600
14
45850
18550
64400
14.5
214550
9450
224000
15
446800
5000
451800
15.5
803450
3600
807050
16
1202800
2450
1205250
16.5
1604550
1700
1606250
17
2010000
1100
2011100
17.5
2415650
650
2416300
18
2821550
250
2821800
18.5
3227600
50
3227650
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.