This page reflects EFA 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 — EFA
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $102.00 (1.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$102.00
Nearest expiry
Expected Move
±$3.90
±3.8%
Days to Expiry
2
Calendar days
Total Call OI
8,447
Nearest expiry
Total Put OI
64,615
Nearest expiry
P/C OI Ratio
7.65
Put-heavy
Spot Price
$103.62
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
$101.50
5/8/2026, 11:11:14 PM
2026-05-15
$102.00
5/15/2026, 11:11:23 PM
2026-05-22NextUpdated
$102.00
5/20/2026, 11:11:28 PM
2026-05-29
$102.00
5/20/2026, 11:11:28 PM
2026-06-05
$103.00
5/20/2026, 11:11:28 PM
2026-06-12
$103.00
5/20/2026, 11:11:28 PM
2026-06-18
$102.00
5/20/2026, 11:11:28 PM
2026-06-26
$91.00
5/20/2026, 11:11:28 PM
2026-06-30
$97.00
5/20/2026, 11:11:28 PM
2026-07-17
$104.00
5/20/2026, 11:11:28 PM
2026-07-31
$102.00
5/20/2026, 11:11:28 PM
2026-08-21
$104.00
5/20/2026, 11:11:28 PM
2026-09-18
$100.00
5/20/2026, 11:11:28 PM
2026-09-30
$100.00
5/20/2026, 11:11:28 PM
2026-12-18
$97.00
5/20/2026, 11:11:28 PM
2026-12-31
$103.00
5/20/2026, 11:11:28 PM
2027-01-15
$95.00
5/20/2026, 11:11:28 PM
2027-03-19
$100.00
5/20/2026, 11:11:28 PM
2027-03-31
$96.00
5/20/2026, 11:11:28 PM
Selected expiration: 2026-05-22 at max pain $102.00.
EFA pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
220661050
220661050
70
500
188353550
188354050
75
2000
156046550
156048550
80
5000
123760050
123765050
85
9000
91473550
91482550
90
13500
59231550
59245050
91
14600
52802350
52816950
91.5
16350
49600650
49617000
92
19250
46398950
46418200
92.5
22400
43230300
43252700
93
25900
40062150
40088050
93.5
29550
36894300
36923850
94
33250
33727500
33760750
94.5
37050
30561800
30598850
95
40950
27396150
27437100
95.5
45000
24234250
24279250
96
49100
21072500
21121600
96.5
53250
17911300
17964550
97
57450
14750300
14807750
97.5
61800
11615450
11677250
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.