This page reflects FIVE 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 — FIVE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $210.00 (9.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$27.25
±12.4%
Days to Expiry
29
Calendar days
Total Call OI
1,847
Nearest expiry
Total Put OI
960
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$219.87
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
$230.00
4/17/2026, 11:12:34 PM
2026-05-15
$220.00
5/15/2026, 11:14:13 PM
2026-06-18NextUpdated
$210.00
5/20/2026, 11:12:14 PM
2026-07-17
$210.00
5/20/2026, 11:12:14 PM
2026-08-21
$220.00
5/20/2026, 11:12:14 PM
2026-09-18
$230.00
5/20/2026, 11:12:14 PM
2026-11-20
$200.00
5/20/2026, 11:12:14 PM
2027-01-15
$200.00
5/20/2026, 11:12:14 PM
Selected expiration: 2026-06-18 at max pain $210.00.
FIVE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
7320000
7320000
135
1500
5880000
5881500
140
2000
5400000
5402000
145
7500
4920000
4927500
150
13000
4441000
4454000
155
18500
3964500
3983000
160
24000
3489000
3513000
165
29500
3015000
3044500
170
36500
2547000
2583500
175
54500
2085500
2140000
180
72500
1628000
1700500
185
101000
1190500
1291500
190
129500
902500
1032000
195
160000
703500
863500
200
199500
524000
723500
210
297500
255000
552500
220
564500
110000
674500
230
1120500
42000
1162500
240
1975500
5000
1980500
250
3024500
0
3024500
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.