This page reflects DK 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 — DK
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $45.00 (0.41 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$6.70
±15.0%
Days to Expiry
29
Calendar days
Total Call OI
499
Nearest expiry
Total Put OI
931
Nearest expiry
P/C OI Ratio
1.87
Put-heavy
Spot Price
$44.59
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
$35.00
4/17/2026, 11:10:41 PM
2026-05-15
$42.50
5/15/2026, 11:11:09 PM
2026-06-18NextUpdated
$45.00
5/20/2026, 11:08:53 PM
2026-07-17
$42.50
5/20/2026, 11:08:53 PM
2026-10-16
$47.50
5/20/2026, 11:08:53 PM
2027-01-15
$30.00
5/20/2026, 11:08:53 PM
Selected expiration: 2026-06-18 at max pain $45.00.
DK pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1267500
1267500
27.5
0
1036250
1036250
30
0
807000
807000
32.5
750
619250
620000
35
1750
445500
447250
37.5
3250
285750
289000
40
5750
134750
140500
42.5
15500
35500
51000
45
31500
0
31500
47.5
71250
0
71250
50
154250
0
154250
52.5
250000
0
250000
55
370750
0
370750
57.5
493500
0
493500
60
617250
0
617250
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.