This page reflects DCO 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 — DCO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $105.00 (38.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$105.00
Nearest expiry
Expected Move
±$6.00
±4.2%
Days to Expiry
29
Calendar days
Total Call OI
258
Nearest expiry
Total Put OI
52
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$143.20
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
$115.00
4/17/2026, 11:09:16 PM
2026-05-15
$140.00
5/15/2026, 11:13:27 PM
2026-06-18NextUpdated
$105.00
5/20/2026, 11:12:22 PM
2026-09-18
$85.00
5/20/2026, 11:12:22 PM
2026-11-20
$130.00
5/20/2026, 11:12:22 PM
2026-12-18
$110.00
5/20/2026, 11:12:22 PM
Selected expiration: 2026-06-18 at max pain $105.00.
DCO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
319000
319000
60
0
268000
268000
65
0
243500
243500
70
0
220000
220000
75
500
196500
197000
80
1500
173500
175000
85
2500
151000
153500
90
4000
130000
134000
95
13000
110000
123000
100
22500
90500
113000
105
32000
71500
103500
110
54000
53500
107500
115
76000
37000
113000
120
98000
22000
120000
125
122000
7000
129000
130
146000
4000
150000
135
176500
2000
178500
140
207000
0
207000
145
241500
0
241500
150
279500
0
279500
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.