This page reflects CHE 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 — CHE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $410.00 (31.61 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$410.00
Nearest expiry
Expected Move
±$11.85
±2.7%
Days to Expiry
29
Calendar days
Total Call OI
149
Nearest expiry
Total Put OI
78
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$441.61
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
$370.00
4/17/2026, 11:07:42 PM
2026-05-15
$390.00
5/15/2026, 11:03:44 PM
2026-06-18NextUpdated
$410.00
5/20/2026, 11:06:40 PM
2026-09-18
$350.00
5/20/2026, 11:06:40 PM
2026-12-18
$340.00
5/20/2026, 11:06:40 PM
Selected expiration: 2026-06-18 at max pain $410.00.
CHE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
250
0
920000
920000
270
0
764000
764000
280
0
691000
691000
290
0
628000
628000
300
3000
565000
568000
310
6000
502000
508000
320
9000
441000
450000
330
12000
380000
392000
340
15000
321000
336000
350
18000
262000
280000
360
21000
210000
231000
370
27000
160000
187000
380
33000
113000
146000
390
47000
86000
133000
400
61000
59000
120000
410
81000
38000
119000
420
103000
20000
123000
430
130000
8000
138000
440
159000
6000
165000
450
191000
4000
195000
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.