This page reflects FCFS 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 — FCFS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (26.57 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
±$16.05
±7.1%
Days to Expiry
29
Calendar days
Total Call OI
215
Nearest expiry
Total Put OI
144
Nearest expiry
P/C OI Ratio
0.67
Put-heavy
Spot Price
$226.57
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
$195.00
4/17/2026, 11:15:09 PM
2026-05-15
$210.00
5/15/2026, 11:15:13 PM
2026-06-18NextUpdated
$200.00
5/20/2026, 11:12:43 PM
2026-09-18
$175.00
5/20/2026, 11:12:43 PM
2026-12-18
$190.00
5/20/2026, 11:12:43 PM
Selected expiration: 2026-06-18 at max pain $200.00.
FCFS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
1528000
1528000
105
500
1456000
1456500
115
1500
1312000
1313500
120
2000
1240000
1242000
125
2500
1169500
1172000
130
3000
1099500
1102500
135
5000
1029500
1034500
140
7500
959500
967000
145
11500
890000
901500
150
18500
820500
839000
155
27500
751000
778500
160
37000
681500
718500
165
52000
613500
665500
170
67000
545500
612500
175
82000
477500
559500
180
97500
409500
507000
185
113000
342000
455000
190
130000
275000
405000
195
148000
210000
358000
200
168500
145000
313500
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.