This page reflects EBS 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 — EBS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $9.00 (0.85 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$1.18
±14.4%
Days to Expiry
29
Calendar days
Total Call OI
2,273
Nearest expiry
Total Put OI
560
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$8.15
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
$8.00
4/17/2026, 11:10:35 PM
2026-05-15
$9.00
5/15/2026, 11:13:13 PM
2026-06-18NextUpdated
$9.00
5/20/2026, 11:10:09 PM
2026-09-18
$8.00
5/20/2026, 11:10:09 PM
2026-12-18
$15.00
5/20/2026, 11:10:09 PM
2027-01-15
$7.00
5/20/2026, 11:10:09 PM
Selected expiration: 2026-06-18 at max pain $9.00.
EBS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
511100
511100
5
800
287100
287900
6
1200
231100
232300
7
1600
175100
176700
8
2000
126600
128600
9
5600
97000
102600
10
43100
69800
112900
11
158600
46400
205000
12
337900
30100
368000
13
524800
15000
539800
14
714300
0
714300
15
906300
0
906300
16
1107100
0
1107100
17
1308500
0
1308500
18
1509900
0
1509900
19
1713500
0
1713500
20
1917100
0
1917100
21
2128700
0
2128700
22
2340300
0
2340300
24
2765100
0
2765100
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.