This page reflects EMR 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 — EMR
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $130.00 (2.86 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$3.45
±2.6%
Days to Expiry
2
Calendar days
Total Call OI
611
Nearest expiry
Total Put OI
278
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$132.86
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
$134.00
5/8/2026, 11:11:31 PM
2026-05-15
$140.00
5/15/2026, 11:14:18 PM
2026-05-22NextUpdated
$130.00
5/20/2026, 11:09:23 PM
2026-05-29
$140.00
5/20/2026, 11:09:23 PM
2026-06-05
$138.00
5/20/2026, 11:09:23 PM
2026-06-12
$146.00
5/20/2026, 11:09:23 PM
2026-06-18
$130.00
5/20/2026, 11:09:23 PM
2026-06-26
$134.00
5/20/2026, 11:09:23 PM
2026-07-17
$130.00
5/20/2026, 11:09:23 PM
2026-09-18
$140.00
5/20/2026, 11:09:23 PM
2026-12-18
$145.00
5/20/2026, 11:09:23 PM
2027-01-15
$135.00
5/20/2026, 11:09:23 PM
2027-03-19
$130.00
5/20/2026, 11:09:23 PM
Selected expiration: 2026-05-22 at max pain $130.00.
EMR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
1371400
1371400
85
0
1234900
1234900
90
0
1103400
1103400
95
0
973400
973400
100
0
843400
843400
105
0
713400
713400
106
0
687400
687400
107
0
661400
661400
109
0
609400
609400
110
100
583400
583500
111
300
557400
557700
112
500
531400
531900
113
700
505400
506100
114
1300
479400
480700
115
2300
453400
455700
117
4500
401400
405900
118
5700
376200
381900
119
6900
351200
358100
120
9600
326700
336300
121
13800
302800
316600
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.