SPDR Dow Jones Industrial Average ETFClose $500.24EOD only
Max Pain
$495.00
Next expiry May 22, 2026
Expected Move
±$4.67
0.9% from close
Price Gap
-5.24
Distance to max pain
IV Rank
41
Middle-high premium
P/C OI
1.93
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects DIA 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 — DIA
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $495.00 (5.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$495.00
Nearest expiry
Expected Move
±$4.67
±0.9%
Days to Expiry
2
Calendar days
Total Call OI
30,517
Nearest expiry
Total Put OI
21,384
Nearest expiry
P/C OI Ratio
0.70
Put-heavy
Spot Price
$500.24
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
$493.00
5/8/2026, 11:12:03 PM
2026-05-15
$496.00
5/15/2026, 11:12:13 PM
2026-05-22NextUpdated
$495.00
5/20/2026, 11:10:46 PM
2026-05-29
$495.00
5/20/2026, 11:10:46 PM
2026-06-05
$496.00
5/20/2026, 11:10:46 PM
2026-06-12
$496.00
5/20/2026, 11:10:46 PM
2026-06-18
$485.00
5/20/2026, 11:10:46 PM
2026-06-26
$498.00
5/20/2026, 11:10:46 PM
2026-06-30
$490.00
5/20/2026, 11:10:46 PM
2026-07-17
$500.00
5/20/2026, 11:10:46 PM
2026-08-21
$470.00
5/20/2026, 11:10:46 PM
2026-09-18
$500.00
5/20/2026, 11:10:46 PM
2026-09-30
$478.00
5/20/2026, 11:10:46 PM
2026-12-18
$460.00
5/20/2026, 11:10:46 PM
2026-12-31
$495.00
5/20/2026, 11:10:46 PM
2027-01-15
$480.00
5/20/2026, 11:10:46 PM
2027-03-31
$520.00
5/20/2026, 11:10:46 PM
Selected expiration: 2026-05-22 at max pain $495.00.
DIA pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
355
0
248759550
248759550
360
0
238068550
238068550
365
0
227378550
227378550
370
0
216690550
216690550
375
0
206005050
206005050
380
0
195324550
195324550
385
500
184648550
184649050
390
1000
173982050
173983050
395
3000
163317550
163320550
400
5000
152656050
152661050
405
7000
142046050
142053050
410
9000
131436550
131445550
415
11000
120842050
120853050
420
13000
110263550
110276550
425
15000
99703050
99718050
430
17000
89181050
89198050
435
20500
78778050
78798550
440
24000
68534550
68558550
445
29500
58336550
58366050
450
35000
49694050
49729050
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.