This page reflects DBX 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 — DBX
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $25.00 (2.56 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$0.75
±2.7%
Days to Expiry
2
Calendar days
Total Call OI
1,179
Nearest expiry
Total Put OI
234
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$27.56
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
$24.50
5/8/2026, 11:11:20 PM
2026-05-15
$26.00
5/15/2026, 11:11:53 PM
2026-05-22NextUpdated
$25.00
5/20/2026, 11:11:19 PM
2026-05-29
$26.50
5/20/2026, 11:11:19 PM
2026-06-05
$23.00
5/20/2026, 11:11:19 PM
2026-06-12
$27.00
5/20/2026, 11:11:19 PM
2026-06-18
$26.00
5/20/2026, 11:11:19 PM
2026-06-26
$22.00
5/20/2026, 11:11:19 PM
2026-07-17
$26.00
5/20/2026, 11:11:19 PM
2026-10-16
$26.00
5/20/2026, 11:11:19 PM
2027-01-15
$25.00
5/20/2026, 11:11:19 PM
Selected expiration: 2026-05-22 at max pain $25.00.
DBX pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
271100
271100
15
0
224500
224500
17
0
177900
177900
18
1000
154800
155800
19
2000
131800
133800
20
3000
109200
112200
21
5300
88100
93400
22
7600
67300
74900
23
9900
48400
58300
24
12200
34300
46500
24.5
13550
29250
42800
25
14900
24250
39150
25.5
19650
19600
39250
26
24450
15450
39900
26.5
29850
11900
41750
27
35350
8850
44200
27.5
46300
5800
52100
28
58200
3200
61400
29
102900
500
103400
30
220700
300
221000
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.