This page reflects DY 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 — DY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $400.00 (12.78 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$400.00
Nearest expiry
Expected Move
±$63.05
±15.3%
Days to Expiry
29
Calendar days
Total Call OI
2,441
Nearest expiry
Total Put OI
1,040
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$412.78
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
$350.00
4/17/2026, 11:11:00 PM
2026-05-15
$410.00
5/15/2026, 11:14:10 PM
2026-06-18NextUpdated
$400.00
5/20/2026, 11:10:39 PM
2026-07-17
$380.00
5/20/2026, 11:10:39 PM
2026-09-18
$380.00
5/20/2026, 11:10:39 PM
2026-12-18
$430.00
5/20/2026, 11:10:39 PM
Selected expiration: 2026-06-18 at max pain $400.00.
DY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
22881500
22881500
150
0
22361500
22361500
155
0
21841500
21841500
160
0
21321500
21321500
165
0
20804500
20804500
170
500
20290500
20291000
175
1000
19778000
19779000
180
2500
19267500
19270000
185
4500
18760000
18764500
190
6500
18256000
18262500
195
9000
17752000
17761000
200
12000
17250000
17262000
210
18000
16246000
16264000
220
24000
15242000
15266000
230
31000
14238000
14269000
240
39000
13234000
13273000
250
48000
12230000
12278000
260
61000
11233000
11294000
270
75000
10252000
10327000
280
90000
9293000
9383000
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.