This page reflects CNC 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 — CNC
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $57.00 (1.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$57.00
Nearest expiry
Expected Move
±$1.67
±2.9%
Days to Expiry
2
Calendar days
Total Call OI
4,739
Nearest expiry
Total Put OI
4,309
Nearest expiry
P/C OI Ratio
0.91
Put-heavy
Spot Price
$58.28
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
$44.00
5/8/2026, 11:07:46 PM
2026-05-15
$43.00
5/15/2026, 11:07:03 PM
2026-05-22NextUpdated
$57.00
5/20/2026, 11:06:39 PM
2026-05-29
$56.00
5/20/2026, 11:06:39 PM
2026-06-05
$55.00
5/20/2026, 11:06:39 PM
2026-06-12
$51.00
5/20/2026, 11:06:39 PM
2026-06-18
$37.50
5/20/2026, 11:06:39 PM
2026-06-26
$63.00
5/20/2026, 11:06:39 PM
2026-07-17
$55.00
5/20/2026, 11:06:39 PM
2026-08-21
$57.50
5/20/2026, 11:06:39 PM
2026-09-18
$35.00
5/20/2026, 11:06:39 PM
2026-12-18
$52.50
5/20/2026, 11:06:39 PM
2027-01-15
$20.00
5/20/2026, 11:06:39 PM
2027-03-19
$52.50
5/20/2026, 11:06:39 PM
Selected expiration: 2026-05-22 at max pain $57.00.
CNC pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
24
0
13328650
13328650
26
0
12468450
12468450
27
0
12038750
12038750
28
0
11609450
11609450
29
0
11181450
11181450
30
0
10755350
10755350
31
300
10331950
10332250
32
600
9909150
9909750
33
1800
9489150
9490950
34
3000
9070150
9073150
35
4200
8653150
8657350
36
8200
8236650
8244850
37
12200
7820650
7832850
38
16400
7406350
7422750
39
21200
6995650
7016850
40
26000
6587150
6613150
41
31900
6180050
6211950
42
38400
5774850
5813250
43
46100
5373450
5419550
44
55100
4972150
5027250
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.