This page reflects FLEX 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 — FLEX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $130.00 (1.52 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
±$20.65
±15.7%
Days to Expiry
29
Calendar days
Total Call OI
7,317
Nearest expiry
Total Put OI
22,511
Nearest expiry
P/C OI Ratio
3.08
Put-heavy
Spot Price
$131.52
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
$75.00
4/17/2026, 11:12:16 PM
2026-05-15
$90.00
5/15/2026, 11:13:12 PM
2026-06-18NextUpdated
$130.00
5/20/2026, 11:12:36 PM
2026-07-17
$115.00
5/20/2026, 11:12:36 PM
2026-08-21
$90.00
5/20/2026, 11:12:36 PM
2026-09-18
$90.00
5/20/2026, 11:12:36 PM
2026-10-16
$90.00
5/20/2026, 11:12:36 PM
2026-11-20
$90.00
5/20/2026, 11:12:36 PM
2027-01-15
$70.00
5/20/2026, 11:12:36 PM
Selected expiration: 2026-06-18 at max pain $130.00.
FLEX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
143346000
143346000
40
0
132090500
132090500
45
0
120835500
120835500
50
0
109585500
109585500
55
0
98339500
98339500
60
5000
87101000
87106000
65
13500
75903500
75917000
70
28500
64770000
64798500
75
163000
53738500
53901500
80
369000
44641000
45010000
85
637000
35594500
36231500
90
962500
26558500
27521000
95
1370000
21777500
23147500
100
1825500
17817500
19643000
105
2551000
14061500
16612500
110
3340000
10323500
13663500
115
4322000
7121500
11443500
120
5318000
4351500
9669500
125
6371000
1912000
8283000
130
7454000
655500
8109500
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.