This page reflects CG 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 — CG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $47.50 (2.18 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$47.50
Nearest expiry
Expected Move
±$4.40
±9.7%
Days to Expiry
29
Calendar days
Total Call OI
14,540
Nearest expiry
Total Put OI
11,547
Nearest expiry
P/C OI Ratio
0.79
Put-heavy
Spot Price
$45.32
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
$47.50
4/17/2026, 11:06:36 PM
2026-05-15
$50.00
5/15/2026, 11:07:34 PM
2026-06-18NextUpdated
$47.50
5/20/2026, 11:07:30 PM
2026-07-17
$47.50
5/20/2026, 11:07:30 PM
2026-09-18
$50.00
5/20/2026, 11:07:30 PM
2026-12-18
$47.50
5/20/2026, 11:07:30 PM
2027-01-15
$55.00
5/20/2026, 11:07:30 PM
Selected expiration: 2026-06-18 at max pain $47.50.
CG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
17129500
17129500
27.5
0
14242750
14242750
30
250
11359000
11359250
32.5
1500
8496000
8497500
35
2750
5650000
5652750
37.5
8000
2855000
2863000
40
15250
2070750
2086000
42.5
63250
1446750
1510000
45
343000
876750
1219750
47.5
662500
505250
1167750
50
1660000
202000
1862000
52.5
2749000
100500
2849500
55
3970500
28750
3999250
57.5
5668250
14000
5682250
60
7658750
6000
7664750
62.5
10252750
3500
10256250
65
12979250
1750
12981000
67.5
16243750
0
16243750
70
19531500
0
19531500
72.5
22991000
0
22991000
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.