This page reflects DAL 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 — DAL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $71.00 (3.12 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$71.00
Nearest expiry
Expected Move
±$2.80
±3.8%
Days to Expiry
2
Calendar days
Total Call OI
11,376
Nearest expiry
Total Put OI
14,073
Nearest expiry
P/C OI Ratio
1.24
Put-heavy
Spot Price
$74.12
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
$71.00
5/8/2026, 11:10:43 PM
2026-05-15
$70.00
5/15/2026, 11:11:18 PM
2026-05-22NextUpdated
$71.00
5/20/2026, 11:10:17 PM
2026-05-29
$70.00
5/20/2026, 11:10:17 PM
2026-06-05
$70.00
5/20/2026, 11:10:17 PM
2026-06-12
$69.00
5/20/2026, 11:10:17 PM
2026-06-18
$65.00
5/20/2026, 11:10:17 PM
2026-06-26
$40.00
5/20/2026, 11:10:17 PM
2026-07-17
$72.50
5/20/2026, 11:10:17 PM
2026-09-18
$70.00
5/20/2026, 11:10:17 PM
2026-12-18
$67.50
5/20/2026, 11:10:17 PM
2027-01-15
$67.50
5/20/2026, 11:10:17 PM
2027-03-19
$67.50
5/20/2026, 11:10:17 PM
Selected expiration: 2026-05-22 at max pain $71.00.
DAL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
44793000
44793000
40
0
37757000
37757000
45
500
30729000
30729500
50
6000
23702500
23708500
55
16500
16681500
16698000
56
19200
15285000
15304200
57
22600
13892500
13915100
58
26200
12533900
12560100
59
30100
11211300
11241400
60
34000
9945600
9979600
61
38800
8707600
8746400
62
44300
7490900
7535200
63
54600
6320700
6375300
64
66100
5166300
5232400
65
80200
4160200
4240400
66
108300
3282500
3390800
67
144500
2532900
2677400
68
196900
1844300
2041200
69
258200
1288400
1546600
70
362800
840300
1203100
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.