This page reflects DNA 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 — DNA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $8.00 (0.28 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.00
Nearest expiry
Expected Move
±$2.00
±25.9%
Days to Expiry
29
Calendar days
Total Call OI
4,373
Nearest expiry
Total Put OI
1,571
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$7.72
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
$7.00
4/17/2026, 11:09:45 PM
2026-05-15
$8.00
5/15/2026, 11:12:12 PM
2026-06-18NextUpdated
$8.00
5/20/2026, 11:12:47 PM
2026-07-17
$6.00
5/20/2026, 11:12:47 PM
2026-09-18
$7.00
5/20/2026, 11:12:47 PM
2026-12-18
$9.00
5/20/2026, 11:12:47 PM
2027-01-15
$7.00
5/20/2026, 11:12:47 PM
Selected expiration: 2026-06-18 at max pain $8.00.
DNA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
882600
882600
2
0
725500
725500
3
0
568500
568500
4
1600
411600
413200
5
10900
264700
275600
6
23600
178800
202400
7
37100
100000
137100
8
73800
59600
133400
9
122500
36100
158600
10
197500
19200
216700
11
346700
9300
356000
12
542600
4400
547000
13
830600
2800
833400
14
1139200
1400
1140600
15
1502300
0
1502300
16
1902200
0
1902200
17
2305200
0
2305200
18
2709300
0
2709300
19
3130900
0
3130900
20
3564200
0
3564200
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.