This page reflects CRI 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 — CRI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $35.00 (2.11 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$3.58
±9.6%
Days to Expiry
29
Calendar days
Total Call OI
1,348
Nearest expiry
Total Put OI
511
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$37.11
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
$35.00
4/17/2026, 11:08:48 PM
2026-05-15
$37.50
5/15/2026, 11:13:08 PM
2026-06-18NextUpdated
$35.00
5/20/2026, 11:08:18 PM
2026-09-18
$37.50
5/20/2026, 11:08:18 PM
2026-12-18
$30.00
5/20/2026, 11:08:18 PM
Selected expiration: 2026-06-18 at max pain $35.00.
CRI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
730500
730500
17.5
0
603000
603000
20
250
476000
476250
22.5
500
349250
349750
25
750
223000
223750
27.5
1000
151250
152250
30
1250
83500
84750
32.5
6000
27250
33250
35
23250
5750
29000
37.5
66000
2250
68250
40
133500
0
133500
42.5
274750
0
274750
45
434250
0
434250
47.5
645000
0
645000
50
973250
0
973250
55
1637250
0
1637250
60
2303250
0
2303250
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.