This page reflects DRI 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 — DRI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (2.73 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$13.80
±7.0%
Days to Expiry
29
Calendar days
Total Call OI
3,425
Nearest expiry
Total Put OI
7,144
Nearest expiry
P/C OI Ratio
2.09
Put-heavy
Spot Price
$197.27
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
$195.00
4/17/2026, 11:12:07 PM
2026-05-15
$195.00
5/15/2026, 11:12:25 PM
2026-06-18NextUpdated
$200.00
5/20/2026, 11:11:09 PM
2026-07-17
$200.00
5/20/2026, 11:11:09 PM
2026-09-18
$195.00
5/20/2026, 11:11:09 PM
2026-10-16
$200.00
5/20/2026, 11:11:09 PM
2026-12-18
$200.00
5/20/2026, 11:11:09 PM
2027-01-15
$195.00
5/20/2026, 11:11:09 PM
2027-03-19
$185.00
5/20/2026, 11:11:09 PM
Selected expiration: 2026-06-18 at max pain $200.00.
DRI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
63296500
63296500
100
500
59725000
59725500
105
1000
56156500
56157500
110
1500
52588500
52590000
115
2000
49021000
49023000
120
2500
45454000
45456500
125
3000
41901000
41904000
130
3500
38348500
38352000
135
4000
34797500
34801500
140
6000
31256500
31262500
145
8000
27715500
27723500
150
10000
24174500
24184500
155
14000
20653000
20667000
160
18000
17140500
17158500
165
25000
13806500
13831500
170
34000
10671000
10705000
175
46500
7630000
7676500
180
63000
4632500
4695500
185
107500
2823500
2931000
190
160000
1702000
1862000
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.