This page reflects DAVE 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 — DAVE
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $242.50 (1.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$242.50
Nearest expiry
Expected Move
±$12.20
±5.0%
Days to Expiry
2
Calendar days
Total Call OI
647
Nearest expiry
Total Put OI
197
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$243.80
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
$240.00
5/8/2026, 11:11:13 PM
2026-05-15
$200.00
5/15/2026, 11:10:31 PM
2026-05-22NextUpdated
$242.50
5/20/2026, 11:10:19 PM
2026-05-29
$240.00
5/20/2026, 11:10:19 PM
2026-06-05
$270.00
5/20/2026, 11:10:19 PM
2026-06-12
$245.00
5/20/2026, 11:10:19 PM
2026-06-18
$260.00
5/20/2026, 11:10:19 PM
2026-07-17
$230.00
5/20/2026, 11:10:19 PM
2026-08-21
$250.00
5/20/2026, 11:10:19 PM
2026-09-18
$230.00
5/20/2026, 11:10:19 PM
2026-10-16
$210.00
5/20/2026, 11:10:19 PM
2026-11-20
$240.00
5/20/2026, 11:10:19 PM
2026-12-18
$270.00
5/20/2026, 11:10:19 PM
2027-01-15
$180.00
5/20/2026, 11:10:19 PM
Selected expiration: 2026-05-22 at max pain $242.50.
DAVE pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
2122250
2122250
145
0
1540250
1540250
150
0
1443250
1443250
160
1000
1251250
1252250
165
1500
1156250
1157750
175
2500
968250
970750
190
4000
693750
697750
195
4500
608250
612750
200
5000
528250
533250
205
6000
448750
454750
210
8000
369750
377750
215
10500
301250
311750
220
13000
241250
254250
222.5
15500
216750
232250
225
18000
193250
211250
227.5
20500
173500
194000
230
23000
154000
177000
232.5
26250
141250
167500
235
30250
130250
160500
237.5
34500
119250
153750
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.