This page reflects CARS 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 — CARS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $10.00 (0.26 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$1.53
±15.7%
Days to Expiry
29
Calendar days
Total Call OI
698
Nearest expiry
Total Put OI
1,192
Nearest expiry
P/C OI Ratio
1.71
Put-heavy
Spot Price
$9.74
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
$7.50
4/17/2026, 11:06:48 PM
2026-05-15
$10.00
5/15/2026, 11:06:56 PM
2026-06-18NextUpdated
$10.00
5/20/2026, 11:07:27 PM
2026-09-18
$10.00
5/20/2026, 11:07:27 PM
2026-12-18
$10.00
5/20/2026, 11:07:27 PM
Selected expiration: 2026-06-18 at max pain $10.00.
CARS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
888500
888500
5
0
590750
590750
7.5
250
293000
293250
10
3250
3750
7000
12.5
28000
2500
30500
15
115000
1250
116250
17.5
284250
750
285000
20
453500
500
454000
22.5
627250
250
627500
25
801000
0
801000
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.