This page reflects CARR 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 — CARR
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $64.50 (0.91 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$64.50
Nearest expiry
Expected Move
±$0.78
±1.2%
Days to Expiry
2
Calendar days
Total Call OI
942
Nearest expiry
Total Put OI
712
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$63.59
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
2026-04-17
$60.00
4/17/2026, 11:02:19 PM
2026-05-15
$62.50
5/15/2026, 11:08:51 PM
2026-05-22NextUpdated
$64.50
5/20/2026, 11:04:29 PM
2026-05-29
$66.00
5/20/2026, 11:04:29 PM
2026-06-05
$68.00
5/20/2026, 11:04:29 PM
2026-06-12
$65.00
5/20/2026, 11:04:29 PM
2026-06-18
$62.50
5/20/2026, 11:04:29 PM
2026-06-26
$62.00
5/20/2026, 11:04:29 PM
2026-07-17
$62.50
5/20/2026, 11:04:29 PM
2026-09-18
$60.00
5/20/2026, 11:04:29 PM
2026-12-18
$57.50
5/20/2026, 11:04:29 PM
2027-01-15
$60.00
5/20/2026, 11:04:29 PM
2027-03-19
$60.00
5/20/2026, 11:04:29 PM
Selected expiration: 2026-05-22 at max pain $64.50.
CARR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
224350
224350
62
400
89950
90350
62.5
500
56600
57100
63
600
31400
32000
63.5
700
13100
13800
64
800
6650
7450
64.5
3200
450
3650
65
6200
0
6200
65.5
25350
0
25350
66
44800
0
44800
66.5
70200
0
70200
67
96500
0
96500
67.5
123400
0
123400
68
150800
0
150800
68.5
180250
0
180250
69
210150
0
210150
69.5
241050
0
241050
70
276000
0
276000
70.5
317200
0
317200
72.5
483600
0
483600
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.