This page reflects DVA 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 — DVA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $185.00 (11.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$185.00
Nearest expiry
Expected Move
±$14.10
±7.2%
Days to Expiry
29
Calendar days
Total Call OI
4,929
Nearest expiry
Total Put OI
1,333
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$196.87
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
$145.00
4/17/2026, 11:10:56 PM
2026-05-15
$155.00
5/15/2026, 11:10:06 PM
2026-06-18NextUpdated
$185.00
5/20/2026, 11:11:24 PM
2026-07-17
$155.00
5/20/2026, 11:11:24 PM
2026-10-16
$170.00
5/20/2026, 11:11:24 PM
2026-12-18
$125.00
5/20/2026, 11:11:24 PM
Selected expiration: 2026-06-18 at max pain $185.00.
DVA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
9867000
9867000
105
2500
9206500
9209000
110
7500
8552500
8560000
115
12500
7899000
7911500
120
17500
7246500
7264000
125
22500
6595000
6617500
130
27500
5948500
5976000
135
32500
5306500
5339000
140
37500
4666000
4703500
145
43000
4086500
4129500
150
51000
3550000
3601000
155
60500
3061500
3122000
160
119000
2579000
2698000
165
224000
2101500
2325500
170
352000
1624500
1976500
175
486000
1148500
1634500
180
624500
679000
1303500
185
792000
224500
1016500
190
961000
101000
1062000
195
1149500
21500
1171000
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.