This page reflects CGON 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 — CGON
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (4.76 below 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
±$14.05
±21.7%
Days to Expiry
29
Calendar days
Total Call OI
24,913
Nearest expiry
Total Put OI
9,813
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$64.76
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
$40.00
4/17/2026, 11:06:55 PM
2026-05-15
$65.00
5/15/2026, 11:09:35 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:08:25 PM
2026-07-17
$50.00
5/20/2026, 11:08:25 PM
2026-10-16
$45.00
5/20/2026, 11:08:25 PM
Selected expiration: 2026-06-18 at max pain $60.00.
CGON pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
9765000
9765000
35
500
4858500
4859000
40
1000
279000
280000
45
1500
207000
208500
50
3000
150000
153000
55
6500
93500
100000
60
10000
39000
49000
65
123500
7000
130500
70
792000
0
792000
75
1865500
0
1865500
80
7808500
0
7808500
85
13863000
0
13863000
90
19927500
0
19927500
100
44816500
0
44816500
105
57261500
0
57261500
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.