This page reflects DLO 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 — DLO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $12.00 (0.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$1.18
±9.9%
Days to Expiry
29
Calendar days
Total Call OI
14,169
Nearest expiry
Total Put OI
9,317
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$11.92
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
$12.00
4/17/2026, 11:09:38 PM
2026-05-15
$13.00
5/15/2026, 11:12:29 PM
2026-06-18NextUpdated
$12.00
5/20/2026, 11:10:29 PM
2026-07-17
$11.47
5/20/2026, 11:10:29 PM
2026-08-21
$13.00
5/20/2026, 11:10:29 PM
2026-11-20
$13.00
5/20/2026, 11:10:29 PM
2027-01-15
$6.47
5/20/2026, 11:10:29 PM
Selected expiration: 2026-06-18 at max pain $12.00.
DLO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
5366300
5366300
8
600
3503100
3503700
9
900
2573100
2574000
10
6900
1669900
1676800
11
29200
798800
828000
12
58200
161000
219200
13
776000
35900
811900
14
1754700
4100
1758800
15
2769900
1400
2771300
16
4066200
0
4066200
17
5416400
0
5416400
18
6831700
0
6831700
20
9663900
0
9663900
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.