This page reflects CART 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 — CART
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $39.50 (1.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$39.50
Nearest expiry
Expected Move
±$0.50
±1.2%
Days to Expiry
2
Calendar days
Total Call OI
1,333
Nearest expiry
Total Put OI
1,652
Nearest expiry
P/C OI Ratio
1.24
Put-heavy
Spot Price
$41.30
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
$42.00
5/8/2026, 11:08:12 PM
2026-05-15
$39.50
5/15/2026, 11:07:44 PM
2026-05-22NextUpdated
$39.50
5/20/2026, 11:03:24 PM
2026-05-29
$42.00
5/20/2026, 11:03:24 PM
2026-06-05
$40.00
5/20/2026, 11:03:24 PM
2026-06-12
$42.00
5/20/2026, 11:03:24 PM
2026-06-18
$41.00
5/20/2026, 11:03:24 PM
2026-07-17
$40.00
5/20/2026, 11:03:24 PM
2026-08-21
$39.00
5/20/2026, 11:03:24 PM
2026-09-18
$37.00
5/20/2026, 11:03:24 PM
2026-10-16
$44.00
5/20/2026, 11:03:24 PM
2027-01-15
$40.00
5/20/2026, 11:03:24 PM
Selected expiration: 2026-05-22 at max pain $39.50.
CART pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
2303750
2303750
30
0
1478250
1478250
31
1000
1313350
1314350
33
3000
985750
988750
34.5
4500
740200
744700
35
5000
660250
665250
35.5
9250
581150
590400
36
13500
502850
516350
36.5
21500
425150
446650
37
30450
348500
378950
37.5
40550
277750
318300
38
50750
217050
267800
38.5
68200
165500
233700
39
86800
116650
203450
39.5
109500
80500
190000
40
141000
60100
201100
40.5
175600
48250
223850
41
211850
36400
248250
41.5
251500
27800
279300
42
292650
19200
311850
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.