This page reflects CPNG 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 — CPNG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $17.50 (1.88 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.50
Nearest expiry
Expected Move
±$0.48
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
4,494
Nearest expiry
Total Put OI
3,642
Nearest expiry
P/C OI Ratio
0.81
Put-heavy
Spot Price
$15.62
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
$19.00
5/8/2026, 11:09:54 PM
2026-05-15
$18.00
5/15/2026, 11:12:40 PM
2026-05-22NextUpdated
$17.50
5/20/2026, 11:10:01 PM
2026-05-29
$17.00
5/20/2026, 11:10:01 PM
2026-06-05
$17.00
5/20/2026, 11:10:01 PM
2026-06-12
$16.50
5/20/2026, 11:10:01 PM
2026-06-18
$19.00
5/20/2026, 11:10:01 PM
2026-06-26
$17.00
5/20/2026, 11:10:01 PM
2026-07-17
$16.00
5/20/2026, 11:10:01 PM
2026-08-21
$18.00
5/20/2026, 11:10:01 PM
2026-09-18
$23.00
5/20/2026, 11:10:01 PM
2026-11-20
$22.00
5/20/2026, 11:10:01 PM
2026-12-18
$22.00
5/20/2026, 11:10:01 PM
2027-01-15
$20.00
5/20/2026, 11:10:01 PM
2027-03-19
$17.00
5/20/2026, 11:10:01 PM
Selected expiration: 2026-05-22 at max pain $17.50.
CPNG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
5444750
5444750
3
200
5080750
5080950
4
700
4716750
4717450
5
1600
4352750
4354350
6
2800
3988950
3991750
7
4300
3625150
3629450
8
5900
3261350
3267250
11
11600
2169950
2181550
12
13500
1806150
1819650
13
15500
1442350
1457850
13.5
16800
1260550
1277350
14
19750
1080450
1100200
14.5
22850
906750
929600
15
26400
734550
760950
15.5
30600
574900
605500
16
37300
426650
463950
16.5
68300
316900
385200
17
119050
213450
332500
17.5
194600
119050
313650
18
305050
29100
334150
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.