This page reflects CF 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 — CF
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $125.00 (1.70 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$125.00
Nearest expiry
Expected Move
±$4.97
±4.0%
Days to Expiry
2
Calendar days
Total Call OI
4,565
Nearest expiry
Total Put OI
3,013
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$123.30
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
$123.00
5/8/2026, 11:08:21 PM
2026-05-15
$121.00
5/15/2026, 11:10:10 PM
2026-05-22NextUpdated
$125.00
5/20/2026, 11:08:06 PM
2026-05-29
$120.00
5/20/2026, 11:08:06 PM
2026-06-05
$117.00
5/20/2026, 11:08:06 PM
2026-06-12
$123.00
5/20/2026, 11:08:06 PM
2026-06-18
$120.00
5/20/2026, 11:08:06 PM
2026-06-26
$127.00
5/20/2026, 11:08:06 PM
2026-07-17
$110.00
5/20/2026, 11:08:06 PM
2026-08-21
$115.00
5/20/2026, 11:08:06 PM
2026-09-18
$120.00
5/20/2026, 11:08:06 PM
2026-11-20
$120.00
5/20/2026, 11:08:06 PM
2026-12-18
$97.50
5/20/2026, 11:08:06 PM
2027-01-15
$100.00
5/20/2026, 11:08:06 PM
2027-03-19
$130.00
5/20/2026, 11:08:06 PM
Selected expiration: 2026-05-22 at max pain $125.00.
CF pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
11861000
11861000
85
0
10354500
10354500
90
0
8850500
8850500
95
0
7349500
7349500
96
100
7057400
7057500
97
200
6766200
6766400
98
300
6475700
6476000
99
400
6185600
6186000
100
600
5896100
5896700
101
6800
5631800
5638600
102
13000
5367900
5380900
103
19200
5104200
5123400
104
25400
4841200
4866600
105
31600
4579100
4610700
106
37900
4321400
4359300
107
44300
4064800
4109100
108
50700
3808800
3859500
109
57200
3553500
3610700
110
63800
3298900
3362700
111
81000
3051400
3132400
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.