This page reflects DVN 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 — DVN
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $48.00 (0.46 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$48.00
Nearest expiry
Expected Move
±$1.49
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
16,930
Nearest expiry
Total Put OI
5,155
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$48.46
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$46.50
5/8/2026, 11:12:44 PM
2026-05-15
$45.00
5/15/2026, 11:12:24 PM
2026-05-22NextUpdated
$48.00
5/20/2026, 11:11:29 PM
2026-05-29
$47.00
5/20/2026, 11:11:29 PM
2026-06-05
$45.00
5/20/2026, 11:11:29 PM
2026-06-12
$48.00
5/20/2026, 11:11:29 PM
2026-06-18
$42.50
5/20/2026, 11:11:29 PM
2026-06-26
$45.00
5/20/2026, 11:11:29 PM
2026-07-17
$45.00
5/20/2026, 11:11:29 PM
2026-08-21
$45.00
5/20/2026, 11:11:29 PM
2026-09-18
$42.50
5/20/2026, 11:11:29 PM
2026-10-16
$50.00
5/20/2026, 11:11:29 PM
2026-12-18
$40.00
5/20/2026, 11:11:29 PM
2027-01-15
$37.50
5/20/2026, 11:11:29 PM
2027-03-19
$47.50
5/20/2026, 11:11:29 PM
Selected expiration: 2026-05-22 at max pain $48.00.
DVN pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
5957650
5957650
36
300
5442150
5442450
37
600
4926750
4927350
38
900
4411650
4412550
39
1200
3899650
3900850
40
1800
3387750
3389550
41
6000
2878750
2884750
41.5
8150
2627100
2635250
42
10300
2375600
2385900
42.5
14450
2126300
2140750
43
18700
1883000
1901700
43.5
25350
1650850
1676200
44
32000
1422750
1454750
44.5
41050
1197800
1238850
45
50150
1025850
1076000
45.5
70900
869250
940150
46
104600
722250
826850
46.5
150600
580850
731450
47
198700
442150
640850
47.5
261400
321050
582450
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.