This page reflects CE 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 — CE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (6.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$6.75
±12.6%
Days to Expiry
29
Calendar days
Total Call OI
6,387
Nearest expiry
Total Put OI
7,393
Nearest expiry
P/C OI Ratio
1.16
Put-heavy
Spot Price
$53.50
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
$60.00
4/17/2026, 11:02:32 PM
2026-05-15
$65.00
5/15/2026, 11:08:58 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:07:21 PM
2026-07-17
$60.00
5/20/2026, 11:07:21 PM
2026-09-18
$70.00
5/20/2026, 11:07:21 PM
2026-12-18
$60.00
5/20/2026, 11:07:21 PM
2027-01-15
$70.00
5/20/2026, 11:07:21 PM
Selected expiration: 2026-06-18 at max pain $60.00.
CE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
23219250
23219250
22.5
0
21375000
21375000
25
0
19533500
19533500
30
1000
15877000
15878000
35
2000
12320000
12322000
40
9000
8853500
8862500
45
47000
5837500
5884500
50
349500
2963000
3312500
55
706500
1515500
2222000
60
1415500
148500
1564000
65
2451500
51500
2503000
70
4204000
500
4204500
75
6405500
0
6405500
80
8970500
0
8970500
85
11713500
0
11713500
90
14848500
0
14848500
95
18030000
0
18030000
100
21214500
0
21214500
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.