This page reflects CSW 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 — CSW
Data as of market close May 20, 2026
Nearest listed expiration 2026-07-17 shows max pain at $300.00 (37.18 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$300.00
Nearest expiry
Expected Move
±$26.00
±9.9%
Days to Expiry
58
Calendar days
Total Call OI
89
Nearest expiry
Total Put OI
25
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$262.82
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-04-17
$250.00
4/17/2026, 11:10:56 PM
2026-05-15
$250.00
5/15/2026, 11:10:06 PM
2026-07-17NextUpdated
$300.00
5/20/2026, 11:10:44 PM
2026-10-16
$270.00
5/20/2026, 11:10:44 PM
Selected expiration: 2026-07-17 at max pain $300.00.
CSW pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
191000
191000
170
0
143000
143000
190
0
125000
125000
270
0
53000
53000
290
0
35000
35000
300
0
26000
26000
310
25000
17000
42000
320
50000
8000
58000
330
76000
4000
80000
340
102000
0
102000
350
129000
0
129000
370
263000
0
263000
390
397000
0
397000
400
465000
0
465000
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.