This page reflects COO 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 — COO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (1.75 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$6.57
±10.7%
Days to Expiry
29
Calendar days
Total Call OI
690
Nearest expiry
Total Put OI
882
Nearest expiry
P/C OI Ratio
1.28
Put-heavy
Spot Price
$61.75
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
$70.00
4/17/2026, 11:10:34 PM
2026-05-15
$65.00
5/15/2026, 11:07:58 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:07:01 PM
2026-07-17
$60.00
5/20/2026, 11:07:01 PM
2026-08-21
$65.00
5/20/2026, 11:07:01 PM
2026-11-20
$60.00
5/20/2026, 11:07:01 PM
2026-12-18
$60.00
5/20/2026, 11:07:01 PM
Selected expiration: 2026-06-18 at max pain $60.00.
COO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
1132500
1132500
45
1000
691500
692500
50
2000
253500
255500
55
4500
70500
75000
60
9000
11000
20000
65
32500
1000
33500
70
188000
500
188500
75
426000
0
426000
80
737000
0
737000
90
1426000
0
1426000
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.