This page reflects CEVA 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 — CEVA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (8.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$7.62
±20.1%
Days to Expiry
29
Calendar days
Total Call OI
7,724
Nearest expiry
Total Put OI
616
Nearest expiry
P/C OI Ratio
0.08
Put-heavy
Spot Price
$38.03
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
$20.00
4/17/2026, 11:08:35 PM
2026-05-15
$30.00
5/15/2026, 11:03:45 PM
2026-06-18NextUpdated
$30.00
5/20/2026, 11:09:12 PM
2026-07-17
$30.00
5/20/2026, 11:09:12 PM
2026-09-18
$20.00
5/20/2026, 11:09:12 PM
2026-11-20
$25.00
5/20/2026, 11:09:12 PM
2026-12-18
$20.00
5/20/2026, 11:09:12 PM
Selected expiration: 2026-06-18 at max pain $30.00.
CEVA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1079500
1079500
7.5
0
926000
926000
10
0
812500
812500
12.5
0
702000
702000
15
1250
591500
592750
17.5
2500
490750
493250
20
4000
399250
403250
22.5
17000
309500
326500
25
58250
223000
281250
30
170750
79000
249750
35
728750
24000
752750
40
2651250
2500
2653750
45
6157250
1000
6158250
50
9823750
0
9823750
55
13684750
0
13684750
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.