This page reflects ECL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — ECL
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $250.00 (0.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$250.00
Nearest expiry
Expected Move
±$13.70
±5.5%
Days to Expiry
28
Calendar days
Total Call OI
1,859
Nearest expiry
Total Put OI
1,398
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$250.18
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
$260.00
4/17/2026, 11:09:43 PM
2026-05-15
$260.00
5/15/2026, 11:12:46 PM
2026-06-18NextUpdated
$250.00
5/21/2026, 11:11:38 PM
2026-07-17
$260.00
5/21/2026, 11:11:38 PM
2026-10-16
$260.00
5/21/2026, 11:11:38 PM
2026-12-18
$260.00
5/21/2026, 11:11:38 PM
Selected expiration: 2026-06-18 at max pain $250.00.
ECL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
200
0
4397000
4397000
210
0
3100000
3100000
220
0
1806000
1806000
230
1000
533000
534000
240
2000
233000
235000
250
3000
112000
115000
260
324000
39000
363000
270
799000
12000
811000
280
1431000
0
1431000
290
2329000
0
2329000
300
4163000
0
4163000
310
6007000
0
6007000
320
7855000
0
7855000
390
20861000
0
20861000
410
24579000
0
24579000
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.