This page reflects DHT 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 — DHT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $18.00 (0.32 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$18.00
Nearest expiry
Expected Move
±$1.80
±9.8%
Days to Expiry
29
Calendar days
Total Call OI
7,209
Nearest expiry
Total Put OI
3,604
Nearest expiry
P/C OI Ratio
0.50
Put-heavy
Spot Price
$18.32
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
$16.00
4/17/2026, 11:09:42 PM
2026-05-15
$17.00
5/15/2026, 11:10:11 PM
2026-06-18NextUpdated
$18.00
5/20/2026, 11:12:16 PM
2026-07-17
$17.00
5/20/2026, 11:12:16 PM
2026-09-18
$16.00
5/20/2026, 11:12:16 PM
2026-10-16
$18.00
5/20/2026, 11:12:16 PM
2026-12-18
$18.00
5/20/2026, 11:12:16 PM
2027-01-15
$15.00
5/20/2026, 11:12:16 PM
Selected expiration: 2026-06-18 at max pain $18.00.
DHT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
2793400
2793400
10
1100
2433000
2434100
11
3000
2072600
2075600
12
5600
1712200
1717800
13
9900
1351800
1361700
14
14300
991900
1006200
15
19000
698200
717200
16
29900
445500
475400
17
56400
219500
275900
18
92500
36600
129100
19
200200
100
200300
20
469400
0
469400
21
776600
0
776600
22
1483100
0
1483100
23
2197700
0
2197700
24
2918000
0
2918000
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.