This page reflects EXP 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 — EXP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (0.25 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$17.35
±8.7%
Days to Expiry
29
Calendar days
Total Call OI
64
Nearest expiry
Total Put OI
217
Nearest expiry
P/C OI Ratio
3.39
Put-heavy
Spot Price
$200.25
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
$210.00
4/17/2026, 11:13:29 PM
2026-05-15
$195.00
5/15/2026, 11:13:54 PM
2026-06-18NextUpdated
$200.00
5/20/2026, 11:13:00 PM
2026-07-17
$200.00
5/20/2026, 11:13:00 PM
2026-10-16
$200.00
5/20/2026, 11:13:00 PM
2026-11-20
$180.00
5/20/2026, 11:13:00 PM
2027-01-15
$130.00
5/20/2026, 11:13:00 PM
Selected expiration: 2026-06-18 at max pain $200.00.
EXP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
790500
790500
150
500
682000
682500
160
5500
467000
472500
165
8000
379500
387500
170
10500
295000
305500
175
13000
222500
235500
180
15500
166500
182000
185
18000
123000
141000
190
20500
87500
108000
195
23000
56500
79500
200
26000
35000
61000
210
49000
15000
64000
220
76000
3000
79000
230
124000
0
124000
240
179000
0
179000
250
239000
0
239000
260
302000
0
302000
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.