This page reflects DFTX 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 — DFTX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (0.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$4.53
±21.7%
Days to Expiry
29
Calendar days
Total Call OI
9,761
Nearest expiry
Total Put OI
3,070
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$20.87
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
$18.00
4/17/2026, 11:10:07 PM
2026-05-15
$22.00
5/15/2026, 11:13:48 PM
2026-06-18NextUpdated
$20.00
5/20/2026, 11:12:18 PM
2026-07-17
$17.00
5/20/2026, 11:12:18 PM
2026-09-18
$20.00
5/20/2026, 11:12:18 PM
2026-12-18
$18.00
5/20/2026, 11:12:18 PM
2027-01-15
$7.00
5/20/2026, 11:12:18 PM
Selected expiration: 2026-06-18 at max pain $20.00.
DFTX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
5606700
5606700
2
0
5299700
5299700
4
0
4686500
4686500
5
0
4380100
4380100
6
0
4074100
4074100
7
0
3768400
3768400
8
0
3462700
3462700
9
0
3157000
3157000
10
0
2851300
2851300
11
9800
2547400
2557200
12
24800
2249000
2273800
13
40500
1956200
1996700
14
60900
1665900
1726800
15
92300
1376800
1469100
16
156000
1094100
1250100
17
226100
827700
1053800
18
316200
567300
883500
19
418900
315600
734500
20
527400
72500
599900
21
763000
45400
808400
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.