This page reflects ELF 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 — ELF
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $59.00 (8.28 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$59.00
Nearest expiry
Expected Move
±$7.62
±15.0%
Days to Expiry
2
Calendar days
Total Call OI
10,582
Nearest expiry
Total Put OI
10,743
Nearest expiry
P/C OI Ratio
1.02
Put-heavy
Spot Price
$50.72
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
$59.00
5/8/2026, 11:11:07 PM
2026-05-15
$60.00
5/15/2026, 11:12:37 PM
2026-05-22NextUpdated
$59.00
5/20/2026, 11:13:24 PM
2026-05-29
$56.00
5/20/2026, 11:13:24 PM
2026-06-05
$52.00
5/20/2026, 11:13:24 PM
2026-06-12
$58.00
5/20/2026, 11:13:24 PM
2026-06-18
$70.00
5/20/2026, 11:13:24 PM
2026-06-26
$61.00
5/20/2026, 11:13:24 PM
2026-07-17
$55.00
5/20/2026, 11:13:24 PM
2026-08-21
$65.00
5/20/2026, 11:13:24 PM
2026-11-20
$55.00
5/20/2026, 11:13:24 PM
2027-01-15
$70.00
5/20/2026, 11:13:24 PM
Selected expiration: 2026-05-22 at max pain $59.00.
ELF pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
12997300
12997300
41
0
11977200
11977200
42
0
10961400
10961400
42.5
0
10469850
10469850
43
0
9981400
9981400
43.5
0
9508300
9508300
44
0
9037100
9037100
44.5
0
8571100
8571100
45
0
8109050
8109050
45.5
400
7727400
7727800
46
800
7346800
7347600
46.5
1200
6973950
6975150
47
1600
6601800
6603400
47.5
2650
6238700
6241350
48
3700
5879850
5883550
48.5
4800
5536950
5541750
49
5900
5196350
5202250
49.5
7050
4870050
4877100
50
8200
4547700
4555900
51
17300
4014600
4031900
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.