This page reflects CLF 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 — CLF
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $10.00 (0.34 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.48
±4.6%
Days to Expiry
2
Calendar days
Total Call OI
16,774
Nearest expiry
Total Put OI
8,815
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$10.34
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
$10.00
5/8/2026, 11:03:26 PM
2026-05-15
$10.00
5/15/2026, 11:09:11 PM
2026-05-22NextUpdated
$10.00
5/20/2026, 11:09:11 PM
2026-05-29
$10.50
5/20/2026, 11:09:11 PM
2026-06-05
$10.00
5/20/2026, 11:09:11 PM
2026-06-12
$10.50
5/20/2026, 11:09:11 PM
2026-06-18
$10.00
5/20/2026, 11:09:11 PM
2026-06-26
$10.50
5/20/2026, 11:09:11 PM
2026-07-17
$10.00
5/20/2026, 11:09:11 PM
2026-08-21
$11.00
5/20/2026, 11:09:11 PM
2026-09-18
$11.00
5/20/2026, 11:09:11 PM
2026-10-16
$10.00
5/20/2026, 11:09:11 PM
2026-12-18
$10.00
5/20/2026, 11:09:11 PM
2027-01-15
$10.00
5/20/2026, 11:09:11 PM
2027-03-19
$8.00
5/20/2026, 11:09:11 PM
Selected expiration: 2026-05-22 at max pain $10.00.
CLF pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
6135400
6135400
4
1600
5254400
5256000
4.5
13950
4814800
4828750
5
27450
4375550
4403000
5.5
41300
3937200
3978500
6
55350
3500600
3555950
6.5
69650
3064800
3134450
7
84500
2632200
2716700
7.5
99900
2205150
2305050
8
115700
1782150
1897850
8.5
139650
1371250
1510900
9
165950
975100
1141050
9.5
207500
624150
831650
10
257250
354100
611350
10.5
450900
178550
629450
11
766850
81750
848600
11.5
1307850
23350
1331200
12
1952250
13650
1965900
12.5
2671650
5900
2677550
13
3450000
4550
3454550
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.