This page reflects CXW 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 — CXW
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $17.00 (4.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$2.03
±9.5%
Days to Expiry
29
Calendar days
Total Call OI
16,836
Nearest expiry
Total Put OI
3,181
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$21.39
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
$19.00
4/17/2026, 11:12:24 PM
2026-05-15
$18.00
5/15/2026, 11:11:28 PM
2026-06-18NextUpdated
$17.00
5/20/2026, 11:10:15 PM
2026-07-17
$20.00
5/20/2026, 11:10:15 PM
2026-09-18
$20.00
5/20/2026, 11:10:15 PM
2026-11-20
$21.00
5/20/2026, 11:10:15 PM
2026-12-18
$18.00
5/20/2026, 11:10:15 PM
2027-01-15
$17.00
5/20/2026, 11:10:15 PM
Selected expiration: 2026-06-18 at max pain $17.00.
CXW pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
5405000
5405000
8
12600
3182500
3195100
12
19800
1912500
1932300
13
21600
1595000
1616600
14
23400
1278000
1301400
15
25200
1006400
1031600
16
28000
744500
772500
17
30800
528200
559000
18
513200
320000
833200
19
1019600
133400
1153000
20
1550400
3600
1554000
21
2136300
1200
2137500
22
3168800
0
3168800
23
4543200
0
4543200
24
5951900
0
5951900
25
7378800
0
7378800
26
8811100
0
8811100
30
15053100
0
15053100
35
23454600
0
23454600
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.