This page reflects CIFR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — CIFR
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $20.50 (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
$20.50
Nearest expiry
Expected Move
±$1.79
±9.5%
Days to Expiry
3
Calendar days
Total Call OI
41,573
Nearest expiry
Total Put OI
59,611
Nearest expiry
P/C OI Ratio
1.43
Put-heavy
Spot Price
$18.80
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
$18.50
5/8/2026, 11:04:16 PM
2026-05-15
$19.00
5/15/2026, 11:10:47 PM
2026-05-22NextUpdated
$20.50
5/19/2026, 11:09:15 PM
2026-05-29
$18.50
5/19/2026, 11:09:15 PM
2026-06-05
$19.00
5/19/2026, 11:09:15 PM
2026-06-12
$19.00
5/19/2026, 11:09:15 PM
2026-06-18
$17.00
5/19/2026, 11:09:15 PM
2026-06-26
$21.00
5/19/2026, 11:09:15 PM
2026-07-17
$20.00
5/19/2026, 11:09:15 PM
2026-09-18
$19.00
5/19/2026, 11:09:15 PM
2026-10-16
$32.00
5/19/2026, 11:09:15 PM
2026-11-20
$18.00
5/19/2026, 11:09:15 PM
2026-12-18
$15.00
5/19/2026, 11:09:15 PM
2027-01-15
$14.00
5/19/2026, 11:09:15 PM
Selected expiration: 2026-05-22 at max pain $20.50.
CIFR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
96117350
96117350
2
4100
90198250
90202350
3
12000
84279150
84291150
4
31900
78360050
78391950
5
64200
72441050
72505250
6
99500
66522150
66621650
8
172900
54684350
54857250
8.5
192200
51725400
51917600
9
212150
48766550
48978700
9.5
232400
45808900
46041300
10
252800
42851350
43104150
10.5
273500
40008050
40281550
11
294450
37565500
37859950
11.5
315700
35132750
35448450
12
337200
32704550
33041750
12.5
358950
30290650
30649600
13
381000
27881400
28262400
13.5
403600
25483150
25886750
14
430400
23093350
23523750
14.5
458950
20731750
21190700
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.