This page reflects FANG 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 — FANG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $175.00 (29.33 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$17.60
±8.6%
Days to Expiry
29
Calendar days
Total Call OI
13,047
Nearest expiry
Total Put OI
9,874
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$204.33
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
$185.00
4/17/2026, 11:11:52 PM
2026-05-15
$200.00
5/15/2026, 11:14:33 PM
2026-06-18NextUpdated
$175.00
5/20/2026, 11:14:43 PM
2026-07-17
$190.00
5/20/2026, 11:14:43 PM
2026-09-18
$175.00
5/20/2026, 11:14:43 PM
2026-12-18
$180.00
5/20/2026, 11:14:43 PM
2027-01-15
$170.00
5/20/2026, 11:14:43 PM
2027-03-19
$190.00
5/20/2026, 11:14:43 PM
Selected expiration: 2026-06-18 at max pain $175.00.
FANG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
89551500
89551500
65
0
84616500
84616500
70
0
79682000
79682000
75
0
74751000
74751000
80
1500
69834500
69836000
85
3500
64925000
64928500
90
6500
60130500
60137000
95
10000
55337000
55347000
100
14000
50543500
50557500
105
23000
45780000
45803000
110
32000
41115000
41147000
115
45000
36531000
36576000
120
58000
32288000
32346000
125
71000
28572500
28643500
130
84000
25027500
25111500
135
97000
22045500
22142500
140
110500
19128500
19239000
145
124000
16365500
16489500
150
141000
13727500
13868500
155
163000
11303500
11466500
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.