This page reflects CPAY 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 — CPAY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $340.00 (10.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$340.00
Nearest expiry
Expected Move
±$28.00
±8.0%
Days to Expiry
29
Calendar days
Total Call OI
58
Nearest expiry
Total Put OI
80
Nearest expiry
P/C OI Ratio
1.38
Put-heavy
Spot Price
$350.48
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
$300.00
4/17/2026, 11:08:29 PM
2026-05-15
$300.00
5/15/2026, 11:10:05 PM
2026-06-18NextUpdated
$340.00
5/20/2026, 11:06:59 PM
2026-07-17
$260.00
5/20/2026, 11:06:59 PM
2026-08-21
$300.00
5/20/2026, 11:06:59 PM
2026-11-20
$280.00
5/20/2026, 11:06:59 PM
2027-01-15
$320.00
5/20/2026, 11:06:59 PM
Selected expiration: 2026-06-18 at max pain $340.00.
CPAY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
190
0
1031500
1031500
195
0
992000
992000
230
0
719000
719000
240
0
642000
642000
270
0
414000
414000
280
0
348000
348000
290
0
283000
283000
300
0
221000
221000
310
1000
163000
164000
320
3000
107000
110000
330
8000
53000
61000
340
18000
26000
44000
350
52000
0
52000
360
89000
0
89000
370
129000
0
129000
380
181000
0
181000
390
236000
0
236000
400
292000
0
292000
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.