This page reflects CIB 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 — CIB
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $65.00 (0.54 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$7.53
±11.5%
Days to Expiry
29
Calendar days
Total Call OI
1,275
Nearest expiry
Total Put OI
1,091
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$65.54
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
$72.50
4/17/2026, 11:07:09 PM
2026-05-15
$65.00
5/15/2026, 11:09:38 PM
2026-06-18NextUpdated
$65.00
5/20/2026, 11:08:12 PM
2026-07-17
$60.00
5/20/2026, 11:08:12 PM
2026-09-18
$70.00
5/20/2026, 11:08:12 PM
2026-11-20
$70.00
5/20/2026, 11:08:12 PM
2026-12-18
$70.00
5/20/2026, 11:08:12 PM
Selected expiration: 2026-06-18 at max pain $65.00.
CIB pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
42.5
0
2306750
2306750
45
0
2034250
2034250
47.5
0
1762000
1762000
50
0
1490500
1490500
52.5
500
1220000
1220500
55
1000
950500
951500
57.5
1500
681750
683250
60
3000
415000
418000
62.5
8000
196250
204250
65
14500
66750
81250
67.5
123250
52000
175250
70
317000
37250
354250
72.5
545250
25750
571000
75
779000
15250
794250
77.5
1016250
8500
1024750
80
1254000
2000
1256000
82.5
1494500
1500
1496000
85
1735500
1000
1736500
87.5
2016250
500
2016750
90
2334500
0
2334500
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.