This page reflects DB 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 — DB
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (2.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$2.80
±8.5%
Days to Expiry
29
Calendar days
Total Call OI
9,981
Nearest expiry
Total Put OI
2,653
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$32.87
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
$32.00
4/17/2026, 11:10:02 PM
2026-05-15
$31.00
5/15/2026, 11:11:05 PM
2026-06-18NextUpdated
$30.00
5/20/2026, 11:11:19 PM
2026-07-17
$33.00
5/20/2026, 11:11:19 PM
2026-09-18
$33.00
5/20/2026, 11:11:19 PM
2026-10-16
$30.00
5/20/2026, 11:11:19 PM
2027-01-15
$32.00
5/20/2026, 11:11:19 PM
Selected expiration: 2026-06-18 at max pain $30.00.
DB pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
23
0
1490700
1490700
24
400
1225700
1226100
25
900
966100
967000
26
1400
709200
710600
27
1900
455100
457000
28
2400
338400
340800
29
2900
250900
253800
30
21600
175400
197000
31
454700
119200
573900
32
1005400
88100
1093500
33
1677700
70500
1748200
34
2495900
55800
2551700
35
3321200
41400
3362600
36
4153900
27600
4181500
37
4991800
13800
5005600
38
5989700
0
5989700
40
7985700
0
7985700
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.