This page reflects CRSP 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 — CRSP
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $48.00 (0.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$48.00
Nearest expiry
Expected Move
±$1.95
±4.0%
Days to Expiry
2
Calendar days
Total Call OI
2,052
Nearest expiry
Total Put OI
1,160
Nearest expiry
P/C OI Ratio
0.57
Put-heavy
Spot Price
$48.55
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
$52.00
5/8/2026, 11:09:57 PM
2026-05-15
$52.00
5/15/2026, 11:07:49 PM
2026-05-22NextUpdated
$48.00
5/20/2026, 11:10:19 PM
2026-05-29
$50.00
5/20/2026, 11:10:19 PM
2026-06-05
$51.00
5/20/2026, 11:10:19 PM
2026-06-12
$49.00
5/20/2026, 11:10:19 PM
2026-06-18
$55.00
5/20/2026, 11:10:19 PM
2026-06-26
$52.00
5/20/2026, 11:10:19 PM
2026-07-17
$50.00
5/20/2026, 11:10:19 PM
2026-09-18
$55.00
5/20/2026, 11:10:19 PM
2026-10-16
$55.00
5/20/2026, 11:10:19 PM
2027-01-15
$52.50
5/20/2026, 11:10:19 PM
Selected expiration: 2026-05-22 at max pain $48.00.
CRSP pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
1329300
1329300
37
0
1097300
1097300
38
0
983900
983900
39
0
870600
870600
40
0
757800
757800
41
1900
670000
671900
43
5900
494600
500500
43.5
6900
450900
457800
44
8000
407300
415300
44.5
9350
363850
373200
45
10750
320400
331150
45.5
12350
280200
292550
46
16400
240300
256700
46.5
20550
200800
221350
47
34250
161300
195550
47.5
52050
127400
179450
48
77150
98200
175350
48.5
102450
75950
178400
49
128350
54350
182700
49.5
156500
42050
198550
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.